SAIC Earnings Call CityTime Curse Bloomberg Bharara CityTime Trial Slow Train Coming!

Heard on the street -- true or false

After announcing 700 layoffs and more profit declines...SAIC shares drop today 3.9%, wow no  surprise, we are not fans. 

http://finance.yahoo.com/news/saic-falls-3q-profit-falls-183809512.html

Meanwhile back at the farm where there's been little word in yesterday's con call and   After getting warning letter from SEC in July

about the status of civil and derivative suits, it would be nice to hear about the status?... The 10Q does shed some light that the all those lawsuits suits and they are NOT over.

The derivative lawsuits: http://www.sec.gov/Archives/edgar/data/353394/000119312512492494/d410503d10q.htm

"The Company has filed a motion to dismiss each of these complaints because the respective plaintiffs did not serve a pre-suit demand before filing the derivative complaints. The Company has also received two stockholder demand letters related to CityTime (one of which is also related to TRICARE), which an independent committee of the Company’s board of directors is currently reviewing."

"The Company currently believes that a loss relating to the above-described stockholder matters is reasonably possible, but the Company cannot reasonably estimate the range of loss in light of the fact that these matters are in their early stages."  

The street's two cents, SAIC could estimate a loss, couldn't they? IT's reasonably possible, the loss that is? .  SAIC  DPA for CityTime which is an   admission of one count of criminal activity that spans the lawsuit time period to be good and not prosecute criminally for 5 years. If your guilty on criminal activity on money issue, its reasonable for the investors to also ask for their money back. The inflated stock price was part of Citytime and its just is not logical only the scape goats money is frozen, taken, etc.  As of today the SAIC Stock price has never recovered, responsible executives were incentives for  stock price/performance, they had a duty to not look the otherway. Where's the real integrity? Its not right to give Execs soft landings and they shuffle off with their money, and decouple a few internal scape goats who do not even sign contracts (see anynomous tip).  

The  SEC correction requested on loss does not match up exactly but closer see letter of post coma letter of inquiry toSAIC : http://www.sec.gov/Archives/edgar/data/353394/000000000012032855/filename1.pdf

 "With regards to the Derivative and Securities Litigation, you disclose a loss is “possible” 

and the company cannot reasonability estimate the range of “potential loss”.  In your next 

periodic filing, please revise these disclosures to use terms consistent with the 

requirements of ASC 450-20-50 (i.e. “reasonably possible loss” or “probable loss”)