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View Diary: Troubles pile up for Rush - favorite sponsor Angie's List faces a serious legal challenge (18 comments)

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  •  from the articles i've been reading, (6+ / 0-)

    whoever the cpa firm is, that does their mandatory audit (required of all publicly traded entities), is going to have some difficulty getting over that required "ongoing concern" opinion hurdle. as a fellow cpa, i empathize. i just hope they get their fee upfront.

    at this point, it isn't at all clear what's going to do AL in first, the class action lawsuit (also a required disclosure, in the notes to the financials), or their hemorrahaging cash flow. in either event, it doesn't bode well for their long-term viablility. if you have stock, i would strongly urge you to consider selling it now. as well, their current business model appears to make a mockery of what they portay themselves on their ads.

    for those who are interested, Form 10-k's, of publicly traded companies, are available free, as pdf files, on the SEC website: the site has all kinds of information, on all publicly traded companies, available free for the asking. as a cpa and auditor, the part of the 10-K's/audited financials i find to be the most informative is the "notes to the financials". this is where all mandatory disclosures are listed, including lawsuits that may materially impact the company.

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