This is yet another example of bad management by SGH. They announced that there was a board initiated accounting review and at that time they knew that the bank accounting team was there and yet chose not to make this public. This was a material fact at that point in time given the focus on the bank covenants and debt by the short sellers. Why did they decide not to make this public ? Did they think it would be kept quite ? really ???? This management team is starting to look desperate and incompetent. Failing to make this public is inexcusable.
SGH Price at posting:
72.5¢ Sentiment: Hold Disclosure: Held
