Hi Pat: Many thanks for all your advice over the years. I was recently reading about Koss Corp. What are your thoughts on the outlook for this stock? And what about its civil suit? Thanks.
Koss Corp. $2.15, symbol KOSS on Nasdaq (Shares outstanding: 7.4 million; Market cap: $16.3 million; www.koss.com), began operating in 1958 when founder John C. Koss developed the first high-fidelity stereo headphones for consumers. The Koss family owns 78.06% of the stock. The name no doubt brings back warm memories for baby-boom audiophiles, since Koss was a top brand in the stereo music boom of the 1960s and 1970s.
Stereo headphones now account for about 85% of the company’s sales. The remaining 15% comes from Bluetooth wireless speakers, computer headsets and related audio equipment. The company sells most of these products under the Koss brand.
In December 2009, Koss’s former vice president of finance Sujata “Sue” Sachdeva was charged with fraud in U.S. federal court for embezzling $34 million from the company. She was later sentenced to 11 years in prison. As a result of the fraud, Koss has now restated five years of financials.
In February 2016, Koss finally settled a lawsuit…
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