CFO Leaving is troublesomeWe can't know why the CFO was no longer "a fit" as Trent put it in the conf call. Some bullboard posters assume he may have been fired for competency related issues and for most jobs that may be a reasonable assumption. For CFO's however often it is an ethical "lack of fit" between something he is being asked to do and what his professional comfort zone is. I think the market sees this and that is why the last conf call marked a quantum step down in the SP--it makes folks nervous about a potential "shoe to drop". EG PWT, a case in point. Will we ever know why? Prob not. If he got any kind of severage package it would be with a strict confidentiality clause, and even if he didn't, he would get his butt sued off for going public I'm sure, that's SOP in these situations, even whern there's not millions at stake.
Me? I am not holding LEG right now, but I did, several times in and out, buy low sell high. I was doing good last spring and summer, but sadly was still long come fall, whoops! I got out at 4.20 but still got sliced by the falling knife. Have followed the last 3 conf calls and read all their stuff, looking for another buying opportunity. For me the question is whether they can weather the rough patch at all--if I was sure they could I would buy back in right now.