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Technology Stocks : Diamond Multimedia
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To: PaperChase who wrote (4542)7/6/1999 11:36:00 AM
From: lml  Read Replies (1) of 4679
 
Any statement that SIII makes about future events, including expectations of future earnings or revenue, is covered under the safe harbor act, if invoked

Paper:

Not true. Any court would focus on scienter -- as we have seen in the latest 9th Circuit ruling -- which will likely be overturned. Notwithstanding, your analysis will surely not stop any class actions instigated by contingency fee hungry lawyers that, regardless of merit, are injurious to the company & its shareholders.

You are a very confused individual.

Oh, really? You still fail to focus on the crux of my comment & instead focus on your legal BS of which you are clearly clueless. Allow me to repeat for the 3rd time, the bottom line here is that SIII would not make such a statement if it did not have a high level of confidence of living up to its statement. More evidentiary of your cluelessness is the fact that the earnings at issue have nothing to do with DIMD.

What the pre-announcement is stating is that current estimates by analysts under-estimate SIII's performance for Q2. What we are talking about an affirmative statement by the company that current estimates are likely to be exceeded.

Do you think SIII management is actually going to admit that acquiring DIMD is going to be earnings destructive?

What are you talking about? The pre-announcement was in reference to 2Q earnings. DIMDs #s have no impact on these figures. The market makes its own assessment upon how earnings will be impacted by an acquisition. Its own assessment the impact of DIMD was reflected in the drop in SIII stock the day of the announcement of its intention to acquire DIMD, which most will agree is not viewed in the most favorable light by The Street.
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