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Technology Stocks : CMGI What is the latest news on this stock?
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To: Rene Madsen who wrote (10413)6/18/1999 3:37:00 PM
From: LarryCPA  Read Replies (1) of 19700
 
Rene, CMGI makes the decision in conjunction with the underwriters. My guess is that since few shares are being issued the extra cost is not justified.

I'm not sure why the SEC imposes these restriction, but it probably has to do with keeping the brokers from doing overseas what they are not allowed to do here. (False claims, market manipulation, etc.) As with all government policies the practice often falls short of the principle.

Perhaps CMGI could do what SFE is doing for it's small holders, which is put the shares into a voting trust which you could then buy into.(I don't know whether or not that is legal either.)

You might want to contact IR at safeguard.com and see what their non-US restriction they have, as CMGI seemed to borrow their plan.

All in all the IPO market isn't so wonderful that the few shares you will miss will mean much.

Larry
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