Cityscape Financial (CTYS) Message Board

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Non-Tech : Cityscape Financial (CTYS)

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To: Rational who wrote (1599)	11/14/1997 11:32:00 AM
From: Ploni	Read Replies (1) of 2544

I wish someone had asked hard questions about the stock's plunge, insider selling, management's silence, etc. Won't the sale of these pools hurt earnings going forward? One problem is that we don't know why the pre-charge 20 cents/share earnings were only 20 cents. Presumably, the sales of these pools didn't take place at the beginning of the quarter, so it's hard to say that the company will necessarily earn 20 cents/share next quarter. I assume that all of these charges that were thrown into this quarter were due to transactions in that quarter. Is this correct? The quarter ended in September, and I don't remember any press releases telling me they were selling pools left and right, and planning for massive charges. Shoot, I bought in late September and October, and it seems that I wouldn't have bought if I had any idea of this. I think this company will have huge problems with those class-action lawsuits, and while lawyers will be the biggest beneficiaries, I think the class members will also get some relief.

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