Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Jorj X Mckie who wrote (41972)	6/27/2000 10:22:00 AM
From: Original Mad Dog	Read Replies (1) of 63513

I vaguely recall getting about ten bucks from one of those shareholder lawsuits once, but I don't remember which one it was. The securities law was changed a couple of years back (just after the Clintonians went on a West Coast corporate fund-raising orgy) to make it more difficult to win these cases as a plaintiff. But the kind of case that remains winnable involves exactly the sort of thing HLIT did here: They obviously knew there was a problem, almost inadvertently hinted at it at a conference, then backtracked and said there really wasn't a problem, then in less than two weeks "preannounced" that there was a real serious shortfall. I judge the likely outcome of lawsuits by trying to imagine which side I would want to be arguing for if I were in court. That's an easy one this time: I would want to be grilling HLIT management, going through their internal financial reporting mechanism to find out what they knew and when they knew it. And the result of that inquiry would be real uncomfortable for management, I suspect. Class action piranhas have to be salivating at this one. I expect the lawsuits will come as early as today, no later than Friday. MAD DOG

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