Topic: Legal

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Digging in and digging deep…
November 7, 2003—I’m all for full disclosure, but when a single footnote is longer than a typical short story, investors really need to ask themselves whether it’s worth the work. Such is the case at tobacco company RJ Reynolds (RJR) . In the 10-Q it filed earlier today, it devoted 29 pages (out of 44) to the […]

Life at the top…
November 5, 2003—When Mark J. O’Brien resigned as president and CEO of Pulte Homes (PHM) in July, he took home an impressive array of parting gifts. Although O’Brien,60, had worked for Pulte for 21 years, he had only been CEO since January 2001. The bounty is included in the 10-Q that Pulte filed earlier today: –A $3.2 […]

What, me worry?
October 31, 2003—Brightpoint (CELL) investors probaby couldn’t be happier these days. Since July, the stock has split twice. Around this time last year, the stock was trading at under a buck. Now, it’s around $27. Much of that is because business is booming in Asia, where Brightpoint has the majority of its sales. Still, poking around in […]

A family affair…
October 13, 2003—You have to wonder if while the SEC is poking around at Cardinal Health and taking a closer look at a $22 million litigation settlement as the company announced last week, regulators find other things worth paying closer attention to. In its proxy filed late last week, Cardinal (CAH) discloses several related party transactions with […]

A pre-Halloween haunting?
September 24, 2003—In 2000, two of cable set-top manufacturer Scientific-Atlanta’s (SFA) largest customers were Charter Communications (CHTR) and Adelphia Communications (ADELQ.PK) , both of which are facing a series of criminal charges and investigations by the SEC and Justice Department, not to mention shareholder lawsuits. The question now is whether those problems are likely to have any […]

Nice work if you can get it….
September 8, 2003—In PalmSource’s (PSRC) registration statement to offer 2.75 million shares filed earlier today, the company notes that it has entered into a consulting contract with one of its directors, Satjiv Chahil. Under the contract, which was entered into on August 1, Chahil will receive $11,200 per month in exchange for four days of work. His […]

Let’s get ready to settle….
September 2, 2003—The World Wrestling Federation (WWF) has apparently decided that it’s better to kiss and make up, rather than continue to thrash around in the ring. In the footnotes to a 10-Q filed late Friday, the company said it had reached a Memorandum of Understanding with a group of investors who had filed a suit against […]

If only we were so lucky….
August 18, 2003—Dozens of companies including Apple Computer and Delta Airlines have recently announced option exchange programs, according to recent 10-Q filings. This perfectly legal accounting trick, which surfaced several years ago, allows employees to exchange their underwater options for new lower priced ones as long as they wait six months and a day to get the […]