WASHINGTON, July 9, 2001 (PRIMEZONE) -- The Securities Sleuth, http://www.securitiessleuth.com, takes a "behind the scenes" look at various types of securities fraud.
The Sleuth has just published a report on Amedisys, Inc. (OTCBB:AMED). For the last quarter of 2000 and the first quarter of 2001, this company reported dramatically improved profitability, and the resulting rebound in their stock price was equally dramatic. However, the company now reports that it will restate its financial results for these two quarters to correct accounting errors in their revenue recognition calculations. An analysis of the company's financials and the possible impact of this restatement can be found on the Securities Sleuth Website.
Securities Sleuth has also just taken an in-depth look at Hedge Funds. Over the last six months, a significant amount of capital has been flowing into these private and largely unregulated investment pools. While Hedge Funds can generate double-digit returns for investors, their lack of regulation is also opening the doors for "opportunists, stock manipulators, frauds and charlatans." A series of articles about this phenomenon can also be found on the Securities Sleuth Website.
The Securities Sleuth is co-edited by Bob Davis and Mark McNair, the team that previously produced a site named by Forbes magazine as its favorite "Guard Dog" on its "Best of the Web" list. (http://www.forbesbest.com/asp/category.asp?category=Guard+Dogs)
Davis is also the editor of The Napeague Letter (http://www.napeague.com), whose "Suspicious Stocks" column profiled "excessively-promoted" stocks. Bob's column has earned kudos for its analyses from Forbes, The Financial Times, Online Investor, Money Magazine and the San Francisco Chronicle. Mark McNair is an attorney in Washington, D.C., who previously worked for the SEC, and whose practice focuses on securities class action litigation.