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Pastimes : Investment Chat Board Lawsuits
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To: Arcane Lore who wrote (1246)3/13/2001 12:42:51 PM
From: Arcane Lore  Read Replies (1) of 12465
 
Herb Greenberg of TheStreet.com on the TTN settlement:

From Tyco to Titan: Haven't mentioned good ole Titan (TTN:NYSE - news - boards) lately -- not since it was mentioned here in connection with a battle royale it was having with a San Francisco hedge fund that was short its stock. This column went so far as to claim that Titan had launched a witch hunt against short-sellers. Well, with little fanfare -- and no explanation -- Titan dropped the suit several weeks ago against the fund, Botti Brown. Titan has no further comment on the suit, aside from what was in the press release announcing the settlement -- a press release, incidentally, which is conspicuously absent from the press release lineup on Titan's Web site.
Bottom line, it appears, is that Titan got Botti Brown to make a bunch of clarifications that, to me, amounted to little more than ... clarifications. Key to this appears to be that Botti Brown is saying that Titan's accounting isn't in violation of Generally Accepted Accounting Principles. That's interesting because I don't remember Botti Brown claiming that Titan had violated GAAP. In fact, as this column has pointed out in the past, Botti Brown hired an expert witness who focused on how GAAP allows for various interpretations of accounting rules.

thestreet.com
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