Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Thursday, July 27, 2006
Bristol-Myers Excuse Me!
Bristol-Myers Squibb Company (NYSE: BMY) reported financial results for the second quarter and six months. Tucked away in the guidance was this surprising announcement. “The company learned yesterday that the Antitrust Division of the United States Department of Justice is conducting a criminal investigation regarding the proposed settlement of the Apotex litigation described above.” Criminal investigations have a way of stopping civil matters as everyone heads for the hills.