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URL:  http://boards.fool.com/shorts-andrew-left-30688849.aspx

Subject:  Shorts - Andrew Left Date:  5/17/2013  11:11 AM
Author:  StuyvesantGrad70 Number:  17163 of 21325

http://www.citronresearch.com/

World Acceptance (WRLD)
Predatory lender, draws over half its profitability from dubious "credit insurance", a loan add-on that is clearly deceptive to consumers.

Chemed (CHE)
Nation’s largest hospice provider (74% of revenues). Medicare pays for 90%. On May 2, the US Department of Justice filed a false claims act lawsuit alleging fraudulent billing in 20 states. On May 6 the Department of Justice joined a second suit by Dr Charles Gonzales charging Chemed of “enrolling patients in hospice who are not in fact at end-of-life, then billing and collecting for services not provided, or services provided to patients who don’t need them and don’t qualify for them. Enrolling hospice patients in “critical care” categories, allowing them to bill dramatically larger daily amounts based on falsified patient categorizations.”

Angie’s List (ANGI)
Accumulated deficit $219m while insiders have sold $135m worth of stock since its 2011 IPO. A business model that does not work, whose revenue is overly dependent on a large phone room, does not and cannot grow virally, and makes zero logical sense. The single most common complaint about Angie’s List from “real people” is that nearly all of its online reviews are “A”’s. Of course they are. Their entire business model is built around a system rigged to assemble and display only “A” reviews.

Unipixel (UNXL)
Unipixel sold half of Uniboss to Kodak for the equivalent of .80 cents a share — while selling stock at $32 a share to the public.
- See his VIC writeup (rated 6.0) April 2.

Intuitive Surgical (ISRG)
Taylor vs Intuitive court case. Negligence by grossly undertraining doctors in using the da Vinci device, directly leading to catastrophic outcomes for patients.

3D Systems (DDD)
3D printing. Behind every good bubble there is a good promoter, in this case we have the best in Abe Reichental.
It is the opinion of Citron that over the past year, much of the move in the stock of 3D Systems can be attributed to the Motley Fool stock promotion piece that has been long circulating and re-promoted. Even though the video has been out for over a year, we received this email this past weekend: “That's why The Motley Fool has JUST RELEASED this stunning new video — to help individual investors like you jump on the 3 stocks that get you the biggest piece of the action.” Motley Fool has been promoting this same video since the stock was $20! They found themselves with a superficially intriguing stock pick that long ago crossed over the "fully valued" line ... and they just kept on touting it. Now they've boldly gone forth into the land of dishonest stock promotion. There is so much critical misinformation in this slide deck that we will not waste time dissecting it. Instead we will go right to this critically important disclaimer: “The Motley Fool owns shares of 3D Systems, General Electric, and Stratasys and has thefollowing options: Short Jan 2014 $55 Calls on 3D Systems and Short Jan 2014 $30 Puts on3D Systems”

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