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Microcap & Penny Stocks : Amazon Natural (AZNT)
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To: Arcane Lore who wrote (24680)3/9/2000 7:24:00 PM
From: Arcane Lore  Read Replies (1) of 26163
 
In connection with their upcoming IPO, AltaVista filed an updated registration statement earlier today*. As with their 11 Feb 2000 S-1/A, the filing included the following pithy statement concerning pending litigation:

Legal

We are not a party to any material legal proceedings.

freeedgar.com

It's just my opinion of course, but somehow I believe AltaVista does not believe it will be paying AZNT $250 million as a result of the lawsuit. The only remotely plausible alternative explanation** I can think of is that the preparers of the AltaVista filing took the stance that since they hadn't been served (at least according to several parties posting on RB) they didn't need to acknowledge the suit in the filing. Given the predilection of such filings to discuss risks that border on the fanciful (for example, I have seen some IPO filings after Jan. 1, 2000 which list Y2K risks), I find this alternative explanation unlikely. IOW if AltaVista regarded the suit as material they would have mentioned it in the S-1/A even if they had not yet been served (IMO).

* If uncertain of the relevance of the filing to this thread see the post to which I'm responding.

** Given that the lawsuit was discussed in the WSJ IMO it is totally implausible that AltaVista is currently unaware of the lawsuit.
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