Collagen Corp. Message Board

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Biotech / Medical : Collagen Corp.

CGEN 1.750

-1.1%

Nov 3 3:59 PM EST

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To: OldAIMGuy who wrote (34)	5/1/1997 8:33:00 AM
From: Jonathan Rothschild	of 72

I'm very upset with the company. I've tried to call Petersmeyer and Johnson and so far no corporate officer has returned my call. I guess their policy is to respond only in writing. Their conference call was only available for 24 hours on recording and was really lame. I'm upset because Palefsky received a 2 MM severence after resigning and still stays on as Chairman of the Board. Wasn't he receiving a salary and options all along. They couched their remark as a charge due to the severence for a senior executive. Two months ago when they announced plans for restructuring, they also mentioned that Howard was stepping down. However, they did not say that he would receive such a severence that would have a material financial impact in a timely fashion. This might be actionable. If the company continues to look out for themselves instead of their shareholders, I'm going to look into other options. Who would want to buy this stock after seeing how they treat their shareholders? This is my largest position and I feel really burned. So far, I haven't sold any shares.

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