Citron Raises More Concerns On Cbeyond (CBEY)
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Citron published a note today, raising more red flags on Cbeyond (Nasdaq: CBEY). Citron said that Cbeyond is generously overvalued at half its current share price.
Citron raises questions about a potential law enforcement investigation in into Cbeyond. He says, "In an attempt to get clarity on the seeming large number of customer complaints about Cbeyond posted on the web, a Freedom of Information Act inquiry was filed with the Federal Trade Commission.
What was returned was a 100+ page file of customer complaints – and a lot of them are very serious indeed. Many of them represent very serious losses encountered by businesses either contracting with Cbeyond for service, or those trying to cancel and go elsewhere. One recurring pattern is Cbeyond stalling when required to turn over a customer’s phone numbers to a new firm. As usual, Citron provides the link so you can read for yourself."
Citron wrote a negative note on Cbeyond on July 7th.
Citron raises questions about a potential law enforcement investigation in into Cbeyond. He says, "In an attempt to get clarity on the seeming large number of customer complaints about Cbeyond posted on the web, a Freedom of Information Act inquiry was filed with the Federal Trade Commission.
What was returned was a 100+ page file of customer complaints – and a lot of them are very serious indeed. Many of them represent very serious losses encountered by businesses either contracting with Cbeyond for service, or those trying to cancel and go elsewhere. One recurring pattern is Cbeyond stalling when required to turn over a customer’s phone numbers to a new firm. As usual, Citron provides the link so you can read for yourself."
Citron wrote a negative note on Cbeyond on July 7th.
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