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Technology Stocks : Citrix Systems (CTXS)
CTXS 103.900.0%Nov 2 5:00 PM EST
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To: hangmanboothill who wrote (8633)7/5/2000 7:49:29 PM
From: Cogito  Read Replies (1) of 9068
 
>>i will not be disappointed in the settlement because maybe that is not the total issue. what about the cited violations in the Securities and Exchange Act in the Milberg case? won't this action make these executives think twice before they sell their options before failing to announce a 50% decline in quarterly profits, as alleged? check out insider trading, which i did in quicken. Iacobucci sold 450,000 shares in february 2000 for a cool $33,000,000 thereabouts while the rest of us were buying shares waiting for the stock to go higher. i wonder if the next legal battles will be the executives suing each other? we should let the courts decide the merits of the securities violations because i am signing up.<<

HMBH -

The violations alleged (not cited) by Milberg Weiss are, in my opinion, the same kind of boilerplate crap they put into all of their many specious class action suits.

Do you think that Iacobucci could possibly have known in February that a shortfall would develop for the second quarter? Remember that they DID make their numbers for the winter quarter.

If there were any real violations, the SEC could certainly bring charges. I don't believe the civil courts are the right place to examine these issues. Moreover, the court is unlikely to ever actually examine any evidence or testimony, since Citrix will most likely decide that the most prudent action is to settle out of court.

- Allen
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