Adaptec (ADPT) Message Board

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Technology Stocks : Adaptec (ADPT)

ADPT 16.72

-2.2%

10:18 AM EST

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To: Bargain Hunter who wrote (938)	1/23/1998 3:41:00 PM
From: Jim Switz	of 5944

A search of the Business Wire site ( businesswire.com ) on the keyword "Adaptec" at the moment reveals four such lawsuit press releases. Looks like the vultures are really piling on, seeking quick bux in settlements. Typical reaction to a sharp stock-price falloff, especially for that vulture Lerach, who's a notorious adversary of high-tech companies. Adaptec was subject to and settled just such a lawsuit back in '92, as I recall. Presumably, they learned from that experience (I'm sure their extrememly conservative nature when talking to analysts is a direct result) and that they'll cope with this. I'd like to see a statement in response to all this from the company sometime soon, and let's hope they have their accounting policy ducks in a row. Jim

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