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Jeffrey Moore
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Jeffrey is a small time landlord and investor living in Lexington, KY; he recently graduated with a BA in general studies. As a die hard value investor, he finds micro and nano cap companies to be of great interest (and increasingly, the most undervalued). Check out his blog at... More
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  • Esopus Creek Sues Syms. 0 comments
    Jul 1, 2011 7:45 AM | about stocks: SYMSQ

    As a note to the SA editors, which, I don't want published. I know that I have submitted a lot of Syms articles that have note been published as SA articles, but, have been rejected, and then suggested to be put on my insta blog. While I am aware that these sorts of things are not really analysis, the reason that I keep submitting them is that they are pretty important news, which seems to be hard to come by, in relation to the company. I am not trying to be annoying in the matter and certainly don't want to waste your time. It may be that I didn't understand fully what you all want me to contribute. Just let me know, and I will be happy to send you stuff that you all will want to publish 100% of the time, so as to not squander either of our time.

    And now to the article:

    So... It looks like the "keeper of the gate" argument that I espoused here, here, and here- in regards to Esopus Creek keeping Syms from doing anything too crazy is playing out... Syms is being sued by Esopus Creek so that Esopus Creek can go through the books of the company. In their formal complaint, Esopus uses various examples of what appears to be mis-management of the company to build a case...

    This may well end turn out to be the start of one of the bigger developments for the company in recent memory... especially if it ends up making the exploration of strategic alternatives go a bit better.
    It will be interesting to see what happens. Do doubt, this will be one of the more interesting annual meetings ever.
    Disclosure: Long Syms. This is not advice of any kind. Always do a ton of your own research in regards to anything that I say, do, write, or so much as even think about.

    Disclosure: I am long SYMS.
    Stocks: SYMSQ
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