December 10, 2007
Genesco: The First Day
I had a lot of reports today on the Genesco trial. No smoking guns yet; the stock dropped at 11:30 a.m. but the fall doesn't correspond to any change in the testimony (perhaps related to an analyst report)' only two and a bit witnesses put on; it appears that the key witness is going to be the Genesco CFO; a few semi-incriminating emails (the worst from said CFO); no real mention of the SDNY investigation; the judge is taking copious notes; and UBS appears to be doing a better job than Finish Line. Since I am not watching and all of the above is hearsay, I'll forgo any conclusions. I'm hoping to catch the testimony tomorrow.
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