Boulder Brands, A Mario Gabelli Pitch, Down on Fraud Accusation

Boulder Brands Inc (NASDAQ:BDBD) stock fell by more than 12 percent in trading today as one analyst’s report stated that the company was manipulating its financial results. The report came from Prescience Point, and calculated that Boulder could be worth as little as 30 percent of yesterday’s price, if they’re right about the manipulation. The accusations made in the report suggested that Boulder Brands had manipulated its stock price and hidden key details from investors by repeatedly changing its accounting practices and its disclosure language. The report went on to say that Boulder Brands had a history of over-promising and under-delivering to…