Today's New York Times front page has an article on Ackman's VRX disaster, prominently mentioning the unfinished business of the Insider's Trading lawsuit (which was certified as Class Action last week by Judge Carter. Long-time readers of this thread may remember extensive discussions of his prior rulings on the matter, which the media described as VRX victories, but, in fact, set the stage for the current situation).
At this stage, the continued failure to create a provision against losses against earnings (in layman terms: failing to put some money aside, in case the suit loses), in my opinion, should not be acceptable to the auditors of either VRX or PS.
Dan.
PS: Apparently, I couldn't post the link to the NYT article because of a new CP rule requiring that there be a like ratio of at least 1% (I have so many posts, many before the like option even existed, that the ratio is below that; so if you like what you read, please like the posts so I can post links...)
