I have followed this company for many years as it is in my old home town. It seems to always be under some type of investigation by the SEC or someone else. As one of my mid-school teachers pointed out, over half the people in Oklahoma have a criminal in their roots (think True Grit).
All I can say is be very, very careful.
Yeah I agree, but nothing was found in all those investigation. I did some research when PPD was trading at 38$ and found it was pretty cheap for a company with a long record of operating profit. Nobody seems to like this business but it still generated lots of cash to reduce the share count by a VAST amount.
There has been lots of critics on their intense share buyback not returning their expected effect. I believe it's a funny way the street has of complaining that the markets are not always efficients.
I did not buy for only one reason. At the way they are making their buyback there would be no more market for those shares in 5-7 years. After those 5-7 years it was likely to be taken private by management, but who would still be there to make sure the small shareholder would not get screwed?
BeerBaron