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| | 98cv01244 Moskowitz v Mitcham Industries Inc - 4/23/98 Complaint |
 | | Mitcham reported that it had increased its allowance for doubtful accounts expense from $627,000 in fiscal year 1996 to $1,346,000 in fiscal year 1997, and that of the increase, "approximately $500,000 was attributable to the bankruptcy filing of one of the Company's customers, Grant Geophysical, Inc." Significantly, the report then stated that: |
 | | In Mitcham's Form 10-QSB for the second quarter ended July 31, 1997, filed with the SEC on September 10, 1997, Defendants formally reported what was publicly announced one week prior; namely, that the Company experienced a substantial increase in sales during the second quarter of fiscal year 1998. |
 | | Mitcham was followed by numerous analysts employed by major brokerage firms who wrote reports that were distributed to its sales force and certain customers of their respective brokerage firms and that were available to the public through various automated data retrieval services. |
| securities.stanford.edu /1004/MIND98/001.html (9100 words) |
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