|
|
|
CFO To Leave Oxford
|
Business New Haven
11/17/1997
By: Russell Stone
|
NORWALK - Andrew B. Cassidy, chief financial officer of the troubled Oxford Health Plans (NASDAQ: OXHP), has announced his resignation, although he will continue to serve as CFO until a replacement is found. The company had announced worse-than-expected losses from writeoffs for medical claims, and saw its stock price fall 60 percent in one day, October 27. A group of Oxford's shareholders has filed a class-action suit alleging that the company's management concealed the extent of the computer difficulties that hindered billing and thus hurt revenues and earnings. At the same time, however, Smith Barney upgraded Oxford Health to a buy rating, given that its price drop had made it attractively valued.
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
