Leasing Solutions (LSN) Message Board

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Technology Stocks : Leasing Solutions (LSN)

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To: rakitup who wrote (32)	5/10/1999 6:20:00 PM
From: Ricardo Bekin	of 33

Hi Don, I haven't looked at this one for quite a while! I got into the stock in September 97, and everything was looking just great for about a year, then the bottom fell out when they preannounced a loss for the third quarter. I sold my position and lost some money. If I recall correctly, basically their earnings were not real, their assumptions for the residual values of the computers they were leasing out were WAY overstated and when the leases ended and the computers were returned they were forced to mark down the assets. I am not an expert so I can't say if fraud was committed, and I don't know if anyone went to jail. Maybe they have new management now, I don't know. I don't bottom fish, and besides they are now too small for my radar screen. I wish I could erase my name from this thread! Ricardo

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