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John P. Gavin, CFA, is the founder and CEO of Disclosure Insight®, an independent publisher of investment research. Mr. Gavin has spent his entire career of over 25 years in the financial services industry. Prior to starting “DI” in 2000, he worked as an equity analyst and portfolio manager with... More
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  • 3 New Questions for Diamond Foods now that the SEC Probe is formal 3 comments
    Dec 15, 2011 12:06 PM | about stocks: DMND

    In an 8-K filed this morning, Diamond Foods (DMND) disclosed that it received a formal order of investigation from the SEC. To our view, this is not a good development for DMND, as it appears to be an escalation of the situation.

    An SEC investigation moving from informal to formal allows the SEC to issue subpoenas. In general, this is only done when some entity in the mix is failing to voluntarily provide SEC investigators with the information, records, or testimony deemed necessary to conducting their investigation.

    With this in mind, we have 3 questions DMND investors need answered.

    1. What people or entities received the subpoenas?
    2. What information, records, or testimony do the subpoenas seek?
    3. In the 8-K, DMND stated that it “intends to cooperate fully with the SEC.” How does cooperating fully with the SEC reconcile with the SEC’s decision to move the investigation to formal status and issue subpoenas?
    For additional background on the company’s 5 year risk profile, we have attached the DI Report on DMND we published in August.

    Stocks: DMND
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  • Earning REady
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    What a refreshing, valuable and professional asset to Seeking Alpha.
    I am perplexed as to why such a professional managed group is not positioned higher than some of the borderline yellow journalism wild west contributors.
    Keep up the excellent and laborious work Disclosure Insight!


    Warmest Regards,
    17 Dec 2011, 04:00 PM Reply Like
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    Author’s reply » Thanks Joyce! We're glad you like our stuff.
    19 Dec 2011, 04:53 PM Reply Like
  • Earning REady
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    John P. Gavin,
    I miss your valuable insights and often go to your website hoping one day it will be operational. It is my dearest hope that someone bought your research firm out. Still believe you were the most talented and overlooked contributor to date.


    Warmest Regards,
    1 Apr 2013, 10:03 PM Reply Like
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