PR Newswire
WASHINGTON, Sept. 6, 2012
WASHINGTON, Sept. 6, 2012 /PRNewswire/ -- In a recent letter, the CtW Investment Group called on Command Security Corporation (NYSEAMEX:MOC) to explain serious deficiencies in its insider stock ownership and transactions reporting that Command recently disclosed.
Command found that late reports were filed for 32 transactions, involving eleven reporting persons, including Command's current and former CEOs. The transactions dated as far back as 2005 and five initial statements of beneficial ownership were not filed when the officers/directors became reporting persons, as long ago as 2009.
The Group asks that Command explains:
The CtW Investment Group writes that the "substantial lapse in reporting" is alarming because failing to report insider transactions in a timely way deprives investors and potential investors of useful information. The Group also states "that a large number of reports went un-filed and the non-compliance was undetected for an extended period of time raise serious concerns regarding the adequacy of Command's controls and procedures."
The CtW Investment Group works with pension and benefit funds sponsored by unions affiliated with Change to Win, which collectively hold over $200 billion in assets.
The letter can be found at http://www.scribd.com/doc/105139826/CtWIG-Command-Security-Corporation.
SOURCE CtW Investment Group
Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.