I just printed out the 12/31/98 10-Q and all of the financial statements are labeled (unaudited). Which of the Big-5 firms does MCK use? Maybe MCK should have spent a few dollars to have the financials reviewed. Would sure have been cheaper than the cost of issuing misleading financials.
C'mon... don't you see that that's their ticket (easy way out) to this mess???
This is full fledge deception pure and simple, MCK needs to answer legally to all its shareholders. One just don't go about and tell people that everything's OK and then turn around and say... Hey sorry, we didn't want to let you know about this until the ship's actually sinking.
Feels like I'm one of those poor Irish imigrant folks in the movie Titanic.
McCall resigns, gets 10's of millions in severance, and our investment is worth $.50 on the dollar. This is a fortune 100 company, this type of fraud isn't supposed to happen here. While we may get a short term bounce, this is dead money for a year at least. I'm a sucker and poorer for it.