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Technology Stocks : Cascade Communications (CSCC)
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To: Glenn D. Rudolph who wrote (2951)3/19/1997 8:37:00 AM
From: Lorare   of 3743
 
Glenn, under Rule 144, shares of officers and directors are restricted and not marginable in a traditional sense. Firms will lend on these shares only if it promotes their "strategic relationship" with the underlying company. The loan is in effect a non-purpose loan from the brokerage house and typically requires a 70-90% equity requirement...which leads one to speculate that if these insiders had already borrowed on shares in Dec when the price was 60-70, then this current selling may also be related to meeting margin requirements.
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