Rite-AID (RAD) Overdone or Done In? Message Board

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Non-Tech : Rite-AID (RAD) Overdone or Done In?

RAD 0.648

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Oct 16 5:00 PM EST

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To: Larry S. who wrote (362)	11/19/1999 12:23:00 AM
From: CatLady	Read Replies (2) of 700

News doesn't look good. NEW YORK, Nov 18 (Reuters) - Rite Aid Corp. (NYSE: RAD) said Thursday the Securities and Exchange Commission is beginning a formal investigation into the beleaguered drugstore chain and disclosed that long-time auditor KPMG quit after saying it could no longer rely on management's representations. The double blow to the company's already tarnished reputation comes after high-level resignations, profit shortfalls, accounting troubles and racketeering accusations that have pushed Rite Aid stock down close to its one-year low. full article: siliconinvestor.com

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