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FalconStor Clipped by CEO's Abrupt Exit

He believes McNeil will eventually move into the role on a permanent basis. If the improper payment issue derails FalconStor and it ends up on the block like so many other tech companies these days, Freed thinks the interest would be high.

"It would be worth at least $100 million to a lot of people in my opinion," he said, mentioning Dell (DELL - Get Report), EMC (EMC - Get Report), and Hewlett Packard (HPQ - Get Report) specifically.

FalconStor is slated to report its third-quarter results on Oct. 25. The current average estimate of analysts polled by Thomson Reuters is for a loss of 4 cents a share on revenue of $20.1 million.

On July 28, the company reported a non-GAAP generally accepted accounting principles loss of 4 cents a share on revenue of $20.3 million for the second quarter ended on June 30. Wall Street is expecting a breakeven performance for the fourth quarter with revenue ramping up to $23.4 million.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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