NUFO Insiders selling out before the cliff! Surprise surprise...
FILER: PRESIDIO MANAGEMENT GROUP VI LLC
TITLE: Shareholder
TRANSACTION: Sale 180,000 12/01/00-12/07/00 $23.11-$35.90
OWNERSHIP: 5,027,054
FILER: FU WINSTON S
TITLE: Director
TRANSACTION: Sale 500,000 02/02/01 $52.00
OWNERSHIP: 3,454,894
FILER: VALHALLA CAPITAL LP
TITLE: No Relation
BROKER: MORGAN (J P) SECURITIES INC
RESTRICTED SHARES TO SELL: 61,538 DATE REGISTERED: 03/13/01
FILER: NORWEST EQUITY CAPITAL LLC
TITLE: No Relation
BROKER: CHASE H&Q
RESTRICTED SHARES TO SELL: 16,000 DATE REGISTERED: 03/12/01
DJ New Focus/Suit -3: Analyst Downplays Insider Sell-Off
14 Mar 16:57
Plaintiffs hope to recover damages on behalf of New Focus investors who
purchased the company's stock from Jan. 31 to March 5.
New Focus shares closed Wednesday at $18.63, up 26.8% on the day. Volume was
nearly double the average volume of 3.8 million shares.
Earlier Wednesday, New Focus said it didn't have any news or announcements
that would explain the day's stock activity, while analysts speculated that
bargain hunters were buying into the issue.
An analyst from Lamoreaux Partners L.P., a major shareholder of New Focus
stock, has downplayed filings which revealed a glut of insider selling last
month. The filings included sales by Chief Executive Kenneth Westrick, Chief
Operating Officer Pignati Nicola plus a handful of vice presidents and two
directors.
The insiders sold "very modest amounts," the Lamoreaux analysts said or, in
the case of major shareholder Dr. Milton Chang, sold only one-tenth of 1% of
his total holdings.
-Pamela Tate; Dow Jones Newswires; 201-938-5400
(END) DOW JONES NEWS 03-14-01
04:57 PM |
