MaxPower
06-08-2004, 12:03 PM
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Item 5. Other Events and Regulation FD Disclosures
The company announced today that it has terminated Gerald W. Koslow, its Chief Financial Officer, for cause for failing to immediately disclose to the Companyhis arrest for domestic disturbance in mid-April and for failing to disclose the arrest in several regulatory filings. Although the termination is completely unrelated to any financial, financial reporting or SEC matters or responsibilities, Koslow's failure to disclose the incident to the requisite agencies necessitated his immediate termination.
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I don't know how to react to this. They announced earnings last week the stock jumped 8% yesterday despite this news.
I can take this either as a positive or a negative. On the positive side it seems that the company is very serious about SEC regulations - which is refreshing. On the negative side, it is possible that there is more to this story than meets the eye. Perhaps whatever problems he was having in his personal life were related or carried over into his professional life.
Any thoughts?
Item 5. Other Events and Regulation FD Disclosures
The company announced today that it has terminated Gerald W. Koslow, its Chief Financial Officer, for cause for failing to immediately disclose to the Companyhis arrest for domestic disturbance in mid-April and for failing to disclose the arrest in several regulatory filings. Although the termination is completely unrelated to any financial, financial reporting or SEC matters or responsibilities, Koslow's failure to disclose the incident to the requisite agencies necessitated his immediate termination.
[/ QUOTE ]
I don't know how to react to this. They announced earnings last week the stock jumped 8% yesterday despite this news.
I can take this either as a positive or a negative. On the positive side it seems that the company is very serious about SEC regulations - which is refreshing. On the negative side, it is possible that there is more to this story than meets the eye. Perhaps whatever problems he was having in his personal life were related or carried over into his professional life.
Any thoughts?