Tenet Health Care (THC)

[Flatcat]

The executives have robbed the bank!

Notice that on 11/7/12 THC issued a press release that compared their $0.37 earnings to $0.05 in the corresponding 2011 quarter. They just opted to not correct the $0.05 for the 1:4 reverse split on 10/11/12! The press release showed an increase in earnings over 700% which is false.

The executives of THC have sold millions of shares since this "oversight" and the CFO as bought 28,850 early on.

In addition, on 11/27/12 they filed for an Automatic Mixed Securities Shelf. They are going to raise more money for the company at inflated prices.

To verify how it should be done look at FBC who had a 1/10 split prior to earnings. Their press release got it right in their comparison.

This large rise in the PPS is not justified and neither are the profits gained by insider trading.