Jeff, just for clarification, I think the P/w unqualified opinion is the end of the issue. While any auditor can be wrong, you can bet that P/W is not treading lightly with a company in the throes of a suit and SEC investigation when it renders an unqualified opinion, knowing that any screw up will certainly end up coming back to haunt them. As regards the lawsuit, it is my hope as a shareholder and lawyer that they do not take the easy road and "resolve" it, meaning settle it, if its false and baseless. Settlement is tantamount to an admission of liability and wrongdoing, even though it is often an economic rather than moral decision. The perception will be that rsys is settling because they were wrong, and this is the wrong message to send if not the case. If they vigorously defend the suit, it could take years before there is a disposition. Thus, we are left with few options that bring any immediate relief to the situation, if we refuse to accept the P\W audit as being meaningful.
For my part, I trust that the auditors did there job properly, knowing that they are under scrutiny, and that there unqualified opinion is reliable. |
