Cisco Socked with Shareholder Suits

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Tight Underwear Kills! 12/4/2012 | 8:30:34 PM

re: Cisco Socked with Shareholder Suits I hope you're not another masquarading type. There are enough of those on these boards.

Face it - LR is the only stop in town for certain things, like industry overviews.

The owner makes no bones about the companies that bother him. Don't know why he chooses the companies he does - most say because of advertising. But I admire him for his honesty - he writes to these boards in fact.

Welcome to the Real World.

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Hanover_Fist 12/4/2012 | 8:30:32 PM

re: Cisco Socked with Shareholder Suits Reading the posts on this article is awe-inspiring.

LightReading - the National Enquirer of the Technology Industry.

Steve Saunders: "Boo...hoo...hoo...If people pick on MY website, then I'll just pull all those posts off MY message board - there. That'll teach those nasty reader a lesson. I only want people to agree with me to be allowed to post - snif...whimper"

Way to go, Steve. Once again you clearly demonstrate your true intentions...never bog down news analysis with meaningful facts...

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cfaller 12/4/2012 | 8:30:25 PM

re: Cisco Socked with Shareholder Suits "Way to go, Steve. Once again you clearly demonstrate your true intentions...never bog down news analysis with meaningful facts..."

What meaningful facts are being excluded? Just because the analysis isn't kind to Cisco doesn't mean it's not factual.

What's wrong with you people?

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DCITDave 12/4/2012 | 8:30:24 PM

re: Cisco Socked with Shareholder Suits Um, I don't hate our readers. Where do you get off saying something like that?

I disagree with our readers sometimes. Like now, for instance.

But there's no hatred here.

P.S. A.D.'s parody of MTV's Fear was brilliant. Great fun.

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Hanover_Fist 12/4/2012 | 8:30:24 PM

re: Cisco Socked with Shareholder Suits no...no...

I referred to LR's removal of offensive information on this message board...

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pstafford 12/4/2012 | 8:30:21 PM

re: Cisco Socked with Shareholder Suits I raed the article and then turned to the board and I must say I don't understand much of this discussion. The aricle was clearly factually based, referencing the text of the lawsuit, with no judgement passed. Sure these suits go down all the time; I thought the angle that this one might have some actual merit was well-supported.

So what if lots of companies pull these sorts of vendor-financing and revenue-recognition shenanigans? It's still at the very least unfair to shareholders, and when a bellweather like CSCO does it, they should be called on it. There is little question they were doing it -- I've been hearing these rumours, sometimes from CSCO employees, for months. Everyone knew the CLECs were a house of cards; this amounted to a big gamble that they'd hurt competitors badly enough that it would mask the damage to their own balance sheet.

Not that I think shareholder suits are such a great idea. If you were dumb enough to be long CSCO, it's probably best to simply take your medecine. A little snooping at trade shows easily uncovered their malpractice... The real criminals here are the wall street analysts who knew, or should have known better, and still routinely cranked out "strong buys" on this turkey.

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restonrangers 12/4/2012 | 8:30:04 PM

re: Cisco Socked with Shareholder Suits Can anyone give me an update?

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voyeur 12/4/2012 | 8:28:12 PM

re: Cisco Socked with Shareholder Suits Has anyone seen this?

CISCO MAY HAVE SOLD US$500 MILLION OF WRITTEN-OFF INVENTORY

Cisco may have sold as much as US$500 million of the $2.5 billion of inventory it wrote off two weeks ago, according to an analyst at Dresdner Kleinwort Benson. "We have heard from two sources in Japan that Cisco was able to sell up to $500 million of the $2.5 billion of the inventory write-off it announced on April 16," said Dresdner's Ariane Mahler. If the rumours prove to be true, said Mahler, it raises questions about the credibility of Cisco's management, and could attract the attention of the Securities and Exchange Commission. Any sale of goods written off just two weeks ago would be a "contradiction" of statements made by chief executive John Chambers regarding the level of demand for the components, explained Mahler. AFX (AP), May 1, 2001

I just thought it might be pertinent to the subject of lawsuits.

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