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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Jim Bishop who wrote (55999)7/24/2000 9:04:32 AM
From: StocksDATsoar  Read Replies (2) of 150070
 
Livent Inc -
Post says Drabinsky on comback trail
Livent Inc LVNT
Shares issued 18,071,235 2000-07-21 close $0.005
Monday Jul 24 2000
The National Post reports in a Saturday interview in the paper's July 22 edition that it has been a long, slow climb for Garth Drabinsky in the 23 months since he was confronted by his new bosses with allegations involving $100-million in financial irregularities at Livent. Ken McQueen writes that Mr. Drabinsky won a lawsuit in an Ontario court against KPMG, Livent's long-time accountant which new management brought in to examine the books. Mr. Drabinsky lost $25-million worth of Livent stock and an annual salary of $900,000. "I was stripped of everything," Mr. Drabinsky tells the Post. "I had to deal with my personal fortune being completely ruined (and) the emotional stress of reading incredibly defamatory allegations." Today, while still facing criminal charges of conspiracy and fraud, Mr. Drabinsky is making a comeback. In January, Mr. Drabinsky was named marketing adviser to the Post by Hollinger Inc. Next May, the impresario is bringing to the Toronto stage The Island, a play by Athol Fugard. "I've been let dow badly the conduct of people," he says. "The entertainment business in particular is driven by a lot of irrationality fuelled by egos that run insanely out of control."

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