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Pastimes : Investment Chat Board Lawsuits

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To: Jeffrey S. Mitchell who wrote (122)	2/11/2000 7:22:00 PM
From: Arcane Lore	Read Replies (2) of 12465

At a gathering sponsored by the Professional Liability Underwriting Society with an audience of 500 insurance carriers and brokers , Herb Greenberg, senior columnist at TheStreet.com, participated in a discussion of "Detecting Financial Fraud From Publicly Available Sources". As part of a list of potential red flags that liability insurers should consider before writing a policy insuring against claims of financial fraud, he included the following which may be of interest to the thread: [...] 3. If the company does have a large short interest and the CEO has waged a public war against the shorts and the company's critics, sharpen your pencil. This is almost always a sign of desperation. It was CHS Electronics (HS:NYSE - news) CEO Claudio Osorio who publicly declared war on short-sellers of his company's stock. That was in June 1998, when CHS stock was around 25; it's now around 1 1/2. [...] thestreet.com Naturally the mere existence of a lawsuit by a company against its critics does not prove that the company is guilty of fraud, however, apparently in Herb Greenberg's opinion it suggests a markedly elevated risk.

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