Research Update - March 23, 2022
Note: This is only the research summary. The full 12-page Research Update report with all supporting data and analysis is available to clients by clicking on the attached PDF.
As the snowpack clears, we now await the melting of the ice on the lakes. Considering it gets so cold here in Minnesota in winter you can drive a truck across a frozen lake, it take a bit of time. Let’s get to work.
Big change coming soon. Here’s your hint –>
Those who have followed our work for a long time (we started in 2000), will recall the company started out as SEC Insight, and was later called Disclosure Insight.
For reasons too complex to explain here, I had to stop using the Disclosure Insight® name in 2012. Well, I again fully own the trademark and always loved the “DI” brand I created. Watch this space.
Today’s research update has new additions, confirmed updates, and companies removed from our Watch List. There are now over 80 companies on that list. At the end, we also list 133 companies on which we found no signs of recent SEC investigative activity. Here’s your latest:
New – Added to Watch List. Newly confirmed, undisclosed SEC Investigations.
- Equifax, Inc. – EFX: EFX was clear cybersecurity SEC probe ended Aug-2019.
- Fresenius Medical Care – FMS: FCPA probe was fully resolved Mar-2019.
- Healthcare Services Group – HCSG: Added back. You cannot trust these people.
- McDonald's – MCD: Covered since Nov-2012, first time on Watch List.
- Sealed Air – SEE: Apparently, the SEC risk here is not over.
Confirmed Update. An undisclosed SEC investigation is again confirmed.
- Capital One Financial – COF: Undisclosed SEC investigation is again confirmed.
- Kroger Co. – KR: Undisclosed SEC investigation is again confirmed.
Removed from Watch List in March.
- FibroGen, Inc – FGEN: SEC probe disclosed in the 10-K. We warned you first.
- Koppers Holdings – KOP: SEC probe disclosed in the 10-K. We warned you first.
- XL Fleet Corp. – XL: SEC probe disclosed in the 10-K. We warned you first.
That’s all you get. As always, I thank you for your ongoing support. If you like our work, please tell others. - John P. Gavin, CFA