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Technology Stocks : TSI TelSys Corporation - Satellite communications
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To: Ron Struthers who wrote (237)3/15/2000 8:15:00 PM
From: majorsamols  Read Replies (1) of 241
 
Fraud Suit of principals from TSI majority shareholder..

Ron, you point to one resignation. If resulted from this criminal case, does that make it now totally meaningless? Paul Sevigny, who is TSI's ex-CFO and current IR man, was also a chief investment officer from Abrar and he hasn't left.

Also, if this is such a non-event, how come the Malaysian papers are mentioning Abrar's holdings in "two Canadian companies"? Having TSI connected in any way to securities fraud in a news article isn't pretty. How do we know that a judge's decision won't lead, indirectly, to a divestiture of TSI stock or adverse publicity? Can management "guarantee" that TSI won't ever be mentioned by name in these articles concerning securities fraud? That could lead to a serious impact on the price, especially if the Canadian or U.S. wires pick up the story. Customers like the intelligence/defense industry that TSI is courting don't especially like press of that variety.

Most companies go out of their way to avoid even the appearance of impropriety, but TSI doesn't seem to be bothered at all. At the very least, you have to say that the TSI board hangs with some pretty rough trade and is pretty comfortable with it. Hmmm...

I've pasted the articles in earlier posts. For anyone who cares to read up, go back a few posts. Most shareholders are unaware, because TSI has kept quiet about the case.

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