Yesterday The Stewart News reported that PolyMedica Corporation (NASDAQ: PLMD, $26.15) had terminated 25 employees of its Liberty Medical Supply subsidiary. This comes ten days after the announcement of the unexpected immediate resignation of Liberty’s President W. Keith Trowbridge. To date PolyMedica has not announced the lay offs to investors. Yesterday’s Stewart News article is ###227.gif::attached below ###for your review.
It is Asensio & Company, Inc.’s opinion that PolyMedica’s reported criminal conduct has grossly inflated its stated earnings and created liabilities that far exceed its highest-estimated asset value. Exclusive of this evaluation, we believe PolyMedica’s accounting policies have overstated its assets and sales, and understated its expenses. We also have a strong negative opinion about its management. Asensio & Company, Inc. believes PolyMedica’s stock is grossly overvalued. Our reports on PolyMedica are available at www.asensio.com.
All of Asensio & Company, Inc.’s reports are covered by the terms and conditions of the mandatory user agreement located at /?page_id=25. The statements below are a part of the user agreement whose entirety is incorporated herein by reference. These statements, and all of the statements contained in the mandatory user agreement, are intended to strictly limit our potential liability to you and your possible legal rights to the fullest extent of the law. Readers are advised to carefully read the entirety of the mandatory user agreement and strictly adhere to the directions given therein.
INVESTMENTS IN SECURITIES, COMMODITIES OR FUTURES HAVE INHERENT RISK, AND A PERSON TAKES SUCH RISKS KNOWINGLY AND BEARS FULL RESPONSIBILITY FOR HIS/HER OWN INVESTMENT RESEARCH AND DECISIONS. Use of this site is at your own risk. None of the information contained herein should be construed as an offer to sell or a solicitation of an offer to buy any securities. In cases where there exists controversy concerning a company’s disclosures, investors should not sell or buy their shares based on the theory that markets price securities efficiently. Furthermore, investors should not rely on the market to substitute for their own individual due diligence and deliberate decision making.
All of the information provided by Asensio & Company, Inc. at asensio.com must be taken as a whole and in its entirety. All of the statements on asensio.com involve, concern and are directed at public issues and public controversies of interest to the public at large. asensio.com contains no statements of fact. All of the statements published by asensio.com constitute written opinions and are not provided to assist any individual or entity in making any investment decision.