Disclosure Insight - Commentary & Analysis

Don’t Be Too Quick to Blow-Off the Johnson Controls FCPA Probe

1-Jun-2016 - Johnson Controls – $JCI Analyst Summary: A disclosed SEC investigation is confirmed as on-going. This company has a FCPA probe that has been running a long time, involves accounting, and could hurt (or already is hurting) operations. We explain the flaw inherent in...

Alibaba’s SEC Probe: What’s Missing From This Disclosure?

26-May-2016 - Alibaba Group Holding Ltd – $BABA We parse the language used in Alibaba's newly-disclosed SEC investigation Analyst Summary: On 24-May-2016, Alibaba Group disclosed what appears to be an informal SEC investigation. This is the first time this...

Headwinds for Pinnacle Foods – CEO Turnover and An Undisclosed SEC Probe at Recently Acquired Unit

24-May-2016 - Pinnacle Foods Inc. $PF Confirmed, Undisclosed SEC Investigation at Boulder Brands Unit Analyst Summary: The executives and board of Pinnacle Foods have been distracted this year. The company closed on an all-cash acquisition of Boulder...

Reflections on Groupon’s Undisclosed SEC Enforcement Proceedings

28-Apr-2016 - Groupon, Inc. - $GRPN On Watch List of Companies with Confirmed, Undisclosed SEC Probes Analyst Summary: We understand Sterne Agee analyst Arvind Bhatia was out with a note yesterday in which he reported a statement from Groupon in response...

Is the Conn’s SEC Probe Hurting Earnings? It May Be a Good Time to Ask.

25-Apr-2016 - Conn’s - $CONN On Watch of Companies with Disclosed SEC Probes Added to Disclosure Games® List Analyst Summary: From carefully timed delays in initial disclosure of its SEC probe in 2014, to failure to provide meaningful updates today, we think...

An Undisclosed SEC Investigation of TerraForm Power Underway Even Before SunEdison Delayed Filing its 10-K

18-Apr-2016 - SunEdison, Inc. – SUNE TerraForm Power, Inc. – TERP Vivint Solar, Inc. – VSLR TerraForm Power – Confirmed, undisclosed SEC probe; added to our Watch List of Companies with Undisclosed SEC Probes Analyst Summary: This is one of those cases of...

Disclosed SEC Investigative Activity at Blackstone Group Up Sharply Since 2014

11-Apr-2016 - Blackstone Group – BX On Watch List of Companies with Disclosed SEC Probes Summary and Opinion: Of late, Blackstone has been disclosing a lot more SEC investigative activity than we found in the past. We think this should not be...

Update: There's a Reason Mallinckrodt Continued to Disclose a Protracted, Multi-Agency Probe of Recently-Acquired Questcor Pharmaceuticals

16-Mar-2016 - The following repeats and updates a report we first published on Mallinckrodt on 27-May-2015. Update, from the Mallinckrodt 10-Q filed 02-Feb-2016 -- In September 2012, Questcor received a subpoena from the USAO for the Eastern District of Pennsylvania for information relating to...

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