Attention, those of you who own Central European Distribution Corporation (CEDC): CEDC filed for Chapter 11 bankruptcy and has been acquired by Russian Standard. Shares of CEDC are canceled and cease to be publicly traded. At this time we must recognize the loss in the Snider Investment Method.
We recommend these steps to close the CEDC position:
• Complete the “Profit from Closed Position” portion of the Individual Stock Purchase Record. In this case ‘Profit’ will be the negative of the “Total Extended Amount.”
• Record the loss on the Monthly Stake Worksheet.
• Remove CEDC from your Allocated Cash Worksheet.
Lattco Pro clients: please give us a call and we will make the adjustments for you.
Bankruptcy is a risk of the Snider Method. Although, we attempt to avoid financially unstable companies through our screening process, the screens are not foolproof. We understand your concern and frustration about this situation.
If you have any questions, please don’t hesitate to contact us at 1-888-6-SNIDER or support@snideradvisors.com. We’ll be happy to walk you through the process.
