WASHINGTON, Aug. 6, 2001 (PRIMEZONE) -- The Securities Sleuth, http://www.securitiessleuth.com, takes a "behind the scenes" look at various securities "irregularities" and their impact on investors.
A recent article about Sulzer Medica (NYSE:SM) takes a look at how the company reported the likely financial impact of its recall of a hip replacement implant device, to evaluate whether their delayed reporting of this bad news was detrimental to its investors. By their own admission, the company did not adequately track the number of patients whose hip replacement implant was faulty, and thus understated the number of "revision surgeries" for which they would be obligated for reimbursement.
The Sleuth has also just updated its report on Amedisys, Inc. (OTCBB:AMED). For the last quarter of 2000 and the first quarter of 2001, this company reported dramatically improved profitability, and the resulting rebound in their stock price was equally dramatic. However, the company is now restating its financial results for these two quarters to correct accounting errors in their revenue recognition calculations. An analysis of the company's financials and the possible impact of this restatement can be found on the Securities Sleuth web site.
The Securities Sleuth is co-edited by Bob Davis and Mark McNair, the team that previously produced a site named by Forbes magazine as its favorite "Guard Dog" on its "Best of the Web" list. (http://www.forbesbest.com/asp/category.asp?category=Guard+Dogs)
Davis is also the editor of The Napeague Letter (http://www.napeague.com), whose "Suspicious Stocks" column profiled "excessively-promoted" stocks. Bob's column has earned kudos for its analyses from Forbes, The Financial Times, Online Investor, Money Magazine and the San Francisco Chronicle. Mark McNair is an attorney in Washington, D.C., who previously worked for the SEC and whose practice focuses on securities class action litigation.