KUHN CAPITAL Monday, October 23, 2017
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Now, Federal divine Intervention

March 12

A Federal grand jury in Chicago has launched a criminal investigation into divine's handling of $65 million that its RoweCom division collected from library clients to pay their periodical subscriptions. Apparently. the money disappeared, suspending periodical subscriptions for hundreds of libraries.

The controversy has been simmering for months, even before rumors of divine's impending bankruptcy surfaced several weeks ago. In fact, RoweCom preceeded divine into bankruptcy in Jaunary and is now suing its parent for fraud, claiming that divine made off with the money. In the imterim,
EBSCO -- another libary subscription service -- has been acquiring various RoweCom units.

For its part and predictably, divine denies culpability. For our part, we believe that other allegations of fraud will emerge from the divine mess before its remains are finally forever interred.


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