Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

STX 308.25

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3:59 PM EST

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To: Gus who wrote (1564)	3/31/2000 6:40:00 AM
From: Z Analyzer	of 1989

PLEA FOR THE FIRING OF LUZCO AND THE BOARD: By now it should bew evident to all that the $2 billion management led takeover of Seagate's operating businesses is one of the largest and most egregious examples of self-dealing and violation of corporate fiduciary responsibilities ever. Proposing selling, to themselves, a 20 year old world leader in its market plus numerous other assets and the world's only 15,000 rpm disk drive for ten to 50 cents on the dollar, without competing bids, is an unjustifiable act of greed. The management and Board members which recommended and approved this proposal shouldd be FIRED FOR CAUSE. Of course, this would result in the rescinding of all stock options. Further, it is possible that management's conduct and public statements could constitute fraud which should be investigated further. What is needed is for an institutional shareholder to publicly call for these firings to bring the attention and consideration this matter deserves. -Z

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