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Technology Stocks : Vantive Corporation
VNTV 77.60+2.6%Jan 12 4:00 PM EST
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To: Johnathan C. Doe who wrote (2981)7/7/1999 1:04:00 PM
From: Knight  Read Replies (1) of 3033
 
This lawsuit is most certainly not meaningless.

I was glad to see that a lawsuit has been filed. I was in Vantive last summer when it went off a cliff. I've lost money in other stocks, but this is the only time when it seemed apparent to me that there was strong evidence of foul play.

There were several weeks where the stock was crashing and there was no public negative news whatsoever. Obviously, some institutions and/or big investors knew the bad news several weeks ahead of everyone else. They were obviously trading based on insider information since all the rest of us "outsiders" were left in complete consternation. This was a situation where many, many small investors were diligently trying to get information *for weeks* and were able to get absolutely nothing until Vantive's inexcusably and suspiciously tardy pre-announce. This is exactly the kind of situation that the insider trading laws are designed to prevent. The situation above could not have existed unless somebody was trading on insider information. This whole experience left me completely cynical about there being any semblance of fairness for the small investor in small cap stocks. How can you make intelligent trades when the large investors who have the power to make or break the stock receive vital information weeks in advance of others?

I think it's unlikely this suit will recoup even a small portion of the money that was lost in this case; however, I'd like to see it move forward out of principle. Anyone know how I can sign up to get my share of this?
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