Paul Kedrosky has a dirtier mind that we do. That's a bit embarrassing. For us.
While we were diligently using the SEC full text search to find words like “subpoena” Paul decided to search for, well, some cruder words. What did he find? Details after the jump. If your boss has a problem with you reading four-letter words on company time, well, don't click the link till you get home.
Paul searched for “fuck.” And sure enough he found it in the phrase "you fucking new when i asked you liar” in a filing amending the City National Bancshares' certificate of incorporation and passing a couple of resolutions. The ungrammatical phrase appears completely out of context, and strikes us as a testament the dangers of using instant messenger while drafting official documents. An angry lover? A partner telling off a subordinate attorney? All we can do is speculate.
Well, we could do some actual research and reporting. In our experience, corporate resolutions are usually drafted by low-level corporate associates at law firms or by secretaries at the company itself. The Newark, New Jersey law firm of St. John & Wayne, L.L.C. lists as a client City National Bank of New Jersey, the subsidiary bank of City National Bancshares Corporation.
On several agreements filed with the SEC St. John & Wayne partner Lee A. Albanese is listed as a contact for notices. Usually this would mean that Albanese, who specializes in banking and finance law, is the lead attorney for this client. Maybe he can tell us how "you fucking new when i asked you liar” made its way into his client's SEC filing. Unfortunately, Albanese could not be reached for comment.
But if he calls us back, we’ll let you know.
The Seven Words You Shouldn't Say in SEC Filings [Infectious Greed]