Here is What a Negative Spin Looks Like MustardTiger!!!Concordia Healthcare has made it a regular practice of delivering unpropitious critical news to its shareholder by obscuring it in press releases with regurgitated old "good news" items. On January 11, 2016 Concordia reported an announcement that AMCo but what investors didn't know was that the award was "old news" and that AMCo had received the award more than two months ago in November 2015. Concordia was grasping at how to obscure a kill shot news item to its investors: it had terminated AMCo's CFO in January 2016 and replaced the experienced executive with a junior pharmaceutical executive from the Concordia ranks who had only 2 years (plus 4 months) of industry experience. Of graver concern to its shareholders, was the fact that this executive had a background from Nortel, a company gone bankrupt and who in 2007 both the US Securities and Exchange Commission and Ontario Securities Commision laid charges against senior financial officials for missing "bill and hold" transactions. AMCO's newly promoted CFO was employed with Nortel at the time in the position of Manager, External Reporting and part of his duties as stated on his public Linkedin Profile included preparing SEC and US GAAP developments for impact to financial statement disclosure and preparing financial information for Board of Directors meetings. Other functions that he states on his profile during 2007 included Management's Discussion and Analysis in support of the SEC quarterly and annual regulatory filings.
When CEO of Concordia Healthcare, Mark Laurence Thompson was queried at a recent investor's conference held in Whisler BC about recent integration challenges, Thompson only discclosed that he was having a challeng in working within the different time zones and was not forthcoming with information of this executive changeover, which would have been unquestionably viewed as an integration challenge by the investment community.
(Apologize for any typos, this was a quick draft and I am hungry for supper......)