Radio Exiles E and F

Radio Exiles E and F

Wednesday, May 4, 2011

notes for podcast posted May 3

"Sinbad: It's Just Family" is on WE tv...


Cory Johnson
Bloomberg TV anchor, former hedge fund manager and investigative reporter...


Based on his comments on @BloombergWest , it appears that @CoryJohnsontv is looking forward to "picking on" Ryan Petersen of OCZ...


Reporting on a CEO's felony conviction is now "picking" on him? Wow. @slick @BWest @BloombergWest $OCZ!/CoryJohnsonTV/status/62318178537189377


According to a research note, the company was alleged to have hidden CEO Ryan Petersen's youthful misdeeds from investors during the recent secondary capital-raising...

Petersen himself chimed in, telling Bloomberg: "I believe my only felony conviction was for trafficking in stolen property in exchange for marijuana." He told Bloomberg that the stolen property had been a car stereo and that the phrase "youthful indiscretion" had been a term chosen by the underwriters. He added: "It's irrelevant information. I did a lot of stuff I'm not proud of, but I built a company out of the ground with no venture capital."

The 1934 US Securities Act requires a company must reveal information about any executive convicted of a criminal proceeding or is named subject to a pending criminal proceeding in the past 10 years. Petersen's conviction was in 1998 and this was altered to a misdemeanour in March, 2006. Since the second funding round offering was in April 2011, there was no requirement for OCZ to reveal the information...


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