A. Reader:
Just checked in to find out why COSFF stopped trading on NASDAQ on 6/21, found your post, including this snippet:
"Tuesday 21 October 1997
The Citizen reported that Mr. Cowpland was in possession of data
reporting Corel had suffered significant market share losses for
its software products in 1997 when he sold 2,432,100 shares between
Aug. 11 and Aug. 14 for between $8.20 and $8.80 each on the Toronto
Stock Exchange."
When I read that press quote, it made me nostalgic for the "old days" when Corel shareholders were optimistic for both Corel's and Wordperfect's future, following a 1997 Summer of glowing Cowpland reports about how well WP was doing vs. MSFT's Office. Then the bottom dropped out with the Q3 earnings warning, Cowpland's insider stock sale, and the Q4 earnings shortfall.
I dug back and found my last (or almost last) post on the COSFF thread shortly after the revelation of Cowpland's stock sale:
Message 2356856
I never did follow up on my intent to file a complaint with the SEC, moved on to other things. Did anything ever come of the call for a lawsuit? I see some of the same folks are still hanging around here (hi to Scott Volmar and Mike Assad and others), you guys have a higher pain threshold than I do!
Good luck to all of you who are still patiently long on Corel. Maybe Cowpland one day will get bored and sell the company to someone who can really market and sell a darned good product.
My apologies for butting in, as I said, nostalgia got the better of me!
David T. |
