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Technology Stocks : Spyglass
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To: Rob Terrell who wrote (1050)7/30/1999 8:34:00 AM
From: Art Bechhoefer  Read Replies (1) of 1412
 
I too am impressed with the Spyglass technology and its strategy for maintaining strong positions in non-PC Internet markets. But I am concerned about the shareholder class action lawsuit against Spyglass. I understand that a court has denied Spyglass' motion to dismiss and has directed that the parties move toward a trial. The complaint accuses SPYG management of failing to disclose deferred contract sales to the public at a time when management was selling its own shares at prices considerably above those which prevailed when the news finally came out. I do not know the particulars, and I had no interest in the shares when the alleged violation of the disclosure laws may have taken place. But if the lawsuit is successful, meaning that there is a judgment against the company and its officers, or even a settlement that gives shareholders a few dollars/share, this could drag down the share price even more. So my question is whether, given these legal issues, a price near 15 is reasonable, or should we wait and see?
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