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Technology Stocks : WDC/Sandisk Corporation
WDC 153.96+0.7%Nov 19 3:59 PM EST
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To: LowtherAcademy who wrote (14445)9/2/2000 7:18:21 PM
From: Ausdauer  Read Replies (1) of 60323
 
re: Lexar Media redesign

"As an investor, my interpretation was that, yes,
the products are redesigned and probably do run faster..."

Lew, I am not so certain that would be my interpretation.

Lexar Media was probably forced to go through a redesign to show to the court that they are heeding Judge Breyer's decision and not continuing "business as usual". One might also interpret the redesign as an admission of guilt. A third interpretation is that "the redesign" was a requirement for the IPO to go forward. To some extent the IPO was sugar-coated with the last minute redesign news. Without some promise to investors that Lexar is pursuing (and capable of) a redesign the IPO was a bitter pill to swallow.

The fact that Lexar was forced to redesign speaks volumes.
It suggests that there may be back-royalties on products previously sold, a recall of shelved items if an injunction is sought, and a protracted period of uncertainty while Sandy's lawyers and engineers leaf through the documents on the redesign.

Finally, if Lexar Media had the technical know-how
to design around '987 they would have done it long ago.

The SEC filing makes it seem like Lexar had their backs against the wall when all of a sudden "Eureka!" and all their problems are solved. Well, they had the good sense to leave "Eureka!" out of the SEC filings and haven't had to file any disclaimers because the CEO avoided it during his pre-IPO interviews.

Ausdauer
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