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Technology Stocks : Intel Corporation (INTC)

INTC 50.59

+4.9%

Feb 6 9:30 AM EST

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To: William Partmann who wrote (4371)	10/17/1996 11:17:00 PM
From: jackrabbit	of 186894

William - You've really changed your tune since last week when you regaled us with post #4054 on the history of fraud lawsuits! One thing you're dead wrong about is "To sue in tort or contract you NEED to be DAMAGED". Shysters like Bill Lerach (prime backer of Prop 211)have made a great living for themselves (NOT their clients) by figuring out that this is NOT TRUE in the U.S. legal system. All you have to do is ALLEGE damage, make the company's lawyers start running the clock and tie up some key executives in lengthy depositions. Because of this cost and aggravation, plus the fear of having a jury of 12 morons decide your case, the company soon will settle for a few million $$ to make the suit go away. 40% or more of that money goes into the shyster's pocket. In 1995, Congress passed a law (over Clinton's veto) that should alleviate the problem with securities strike suits in federal courts. So now the shysters are putting their substantial assets behind efforts to change state laws, like Prop. 211, that would make things much worse than they were before 1995. This topic is relevant to this thread not only because of Intel's recent decision to clam up but also because these suits cost companies big $$$ and they inhibit the free flow of information to investors. I hope this legal talk does not upset you too much. Long and getting longer -- John

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