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Technology Stocks : CYOE / Diana Corp. Why has the SEC not halted this pig?
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To: Bruce A. Thompson who wrote (225)7/7/1999 10:07:00 AM
From: Q.  Read Replies (1) of 242
 
You are probably right, Bruce.

In my earlier days I invested in two bad small caps that crashed and burned, and then got hit with class action suits. I had bought stock during the class action period, so I should have qualified for an award. I filled out all the forms that the class action attorneys sent me. And I waited. In at least one of the two cases the company eventually settled and was supposed to pay shareholders.

But I never got so much as one red cent.

So yes, I assume that the cash will all go to the lawyers.

As a short in CYOE, I think that this settlement is largely a non-event, except that the warrants are good news for shorts.

The warrants will probably serve the role of helping to keep a lid on the stock price. If the stock goes well above 9, and I had one of those warrants, I would exercise it and flip the stock. This sort of warrant-related selling is a good friend for shortsellers.
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