Is This a Forward-Looking Statement?
Novastar Financial announced this afternoon, about 14 seconds after the market closed, that its CEO, CFO and general counsel were all.... er...... resigning.
All seeking more time to spend with their families, I trust? Well, it is that time of year.
But here is what I thought was interesting about the Novastar press release announcing this entirely coincidental departure of three rather senior people from the company. At the bottom it reads as follows:
This is legally mandated boilerplate I know, but the very use of the phrase "forward looking" seemed a bit odd. Doesn't that only apply to companies with a future?
Forward Looking StatementsStatements in this report regarding NovaStar Financial, Inc. and its business, which are not historical facts, are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. . . .
© 2007 Gary Weiss. All rights reserved.
Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site, gary-weiss.com.
Labels: Novastar Financial