Duradipped $2.50 to $29.50 on Thursday after a Wall Street Journal article raised questions about whether DURA's off-balance sheet financing was done in part to dress up the company's near-term earnings. The article suggested that the creation of DURA's Spiros Corp. R&D spin-off was a way to "magically purge" R&D expenses from DURA's P&L. (In January 1996, Spiros raised $41 million, which included $13 million from DURA).


Read the full 674 word article

How to gain access

Continue reading with a
two-week free trial.