Documents, Ammunition: Diebold stockholder suit

[kster]

DUE DILIGENCE FAILURE

"We expect the U.S. voting marketplace to generate $1.5 to $2.0 billion in hardware revenue during the next four to five years," then-CEO Wally O'Dell was quoted as saying in Diebold's June 25 2001 "425" SEC filing. Sec Filing: http://www.bbvdocs.org/legal/GESNacquisition6-21-1.pdf

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O'Dell has now been shuffled out of his CEO position following a series of gaffes, beginning with a letter he sent to Ohio Republicans promising to "deliver the election to Bush."

Diebold has collected less than one-eighth of the voting system revenue O'Dell projected to stockholders.

The SEC documents refer to embarking on a process of due diligence during the Global Election Systems acquisition. This due diligence is more fittingly described as doo-doo diligence. What else can you say when you buy a company whose product MUST elicit trust, yet the head programmer and, SEC documents reveal, the LARGEST STOCKHOLDER is a 23-count convicted embezzler? Something stinks.

Somehow Diebold let prison records for programmer and main stockholder Jeffrey Dean get by them, and also forgot to look at the prison records of John Elder, who they put in charge of their ballot printing facility.

Jeffrey Dean prison records:

http://www.bbvforums.org


http://www.scoop.co.nz/stories/WO0512/S00211.htm