i don't think it was webcast from lehman if that's what you mean, but i hear that management confirmed they've lost their forward flow contract and found out on monday. one can only speculate as to why they didn't find this information material enough to disclose in an 8-k or, more importantly, on the roadshow.
It was webcast and you can listen to the replay at PRAA's website. The presentation was straightforward and professional. They were questioned at the end (couldn't hear the questioner)about the forward flow contract. They tried to de-emphasize it, and as you said, stated it (the loss) would have no material effect on the company. I believe they said there was plenty of good paper out there and were positive about results going forward. Blowin'smoke? Don't know. I thought the presentation was reasonalbe, but not somethink to get an investor excited about. DP2.