Last month, I wrote a piece highlighting the potential value in Dolan Media's (NYSE:DM) shares as the company transitions to becoming a pure play provider of legal software. Last week, Dolan released an 8-K indicating that the company is in violation of its banking covenants and that lenders are requiring a $50 million asset sale by March 31, 2014 which caused shares to decline 22%. Clearly investors view this as bad news and are worried about Dolan's ability to continue as a going concern. Is this reasonable? Considering that 1) Dolan has plenty of non-core salable assets and (2) that the sale of these assets will effectively make Dolan a pure-play legal software company, I think the market...
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