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Foundry Reclassifies $77M in Auction Rate Securities

Posted on May 09, 2008

It s been my impression over the last several months that the controversy surrounding Auction Rate Securities (ARS) is rather a non-issue for tech companies, though it has been mentioned as a risk to companies cash position. Nevertheless, it is interesting to note ARS exposure where it pops up.This evening, computer networking vendor Foundry Networks (FDRY) reported in its quarterly filing with the Securities and Exchange Commisssion that of a total $79.2 million in adjustable rate securities with an auction reset feature that it has held as short-term investments, $76.7 million hav...

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