Hmm, this is a little less hyperbolic than I was expecting. All of the elements are there, but I have to admit WDRY showed a bit of class in their sophistry.
Barb
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Coinmach Reaffirms Financial Performance and Accuracy of Reporting
CHARLOTTE, N.C., Feb. 13 /PRNewswire/ -- In response to inquiries regarding a recently issued research report on the Company, Coinmach Laundry Corporation (Nasdaq: WDRY) today reaffirmed without qualification the accuracy and validity of the statements and information provided to investors regarding the Company's financial performance, as well as its reporting practices and procedures.
Stephen R. Kerrigan, Coinmach's chairman and chief executive officer, stated, "I believe that sophisticated investors recognize value and performance, which Coinmach has and will strive to continue to deliver. Investors understand that short-sellers are financially motivated institutions, shorting stocks with a view toward generating quick profits."
Coinmach is the nation's leading provider of outsourced laundry services for multifamily properties. Coinmach has been successfully executing a strategy of growth through acquisitions since early 1995, completing seven significant acquisitions and expanding its national presence. Pro forma for the recently announced Macke transaction, Coinmach will own and operate approximately 675,000 washers and dryers throughout the United States.
SOURCE Coinmach Laundry Corporation
CO: Coinmach Laundry Corporation
ST: North Carolina
IN: HOU REA
SU:
02/13/98 14:55 EST prnewswire.com
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