Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

STX 255.73

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To: Tom Simpson who wrote (1956)	12/6/2000 8:25:57 PM
From: Sam	Read Replies (1) of 1989

Somehow it figures that the Esteemed Leaders at Seagate would be involved with the crew at Lernout, even if it was just to sell them a bill of goods. One group of goniffs fleeces another. I believe Veritas still owns quite a bit of L&H from the Dragon deal, though I'm not really certain. What will happen to Dragon now? Will they be dragged through more mud? s. Belgium to Hear L&H Bankruptcy Case BRUSSELS (Dec. 6) XINHUA - A Belgian judge is scheduled to decide Friday whether to grant protection against creditors to speech recognition software company Lernout and Hauspie. Lernout and Hauspie (L&H) last week filed for bankruptcy protection in both Belgium and the United States. The software company, once the big hope for the country's information technology sector, has 430 million U.S. dollars in bank loans for acquisitions made earlier this year. The company, however, said that it would try to avoid selling parts of the company despite having received expressions of interest from other companies. L&H filed for bankruptcy protection amid plunging stock prices and allegations that its top executive in South Korea had misused a 30-million-dollar bank account. L&H shares plunged 35.18 percent to 3.53 dollars on the pan- European Easdaq market in Brussels before being suspended indefinitely from trading in tandem with the United States Nasdaq market. Thousands of L&H shareholders have been planning to take the software company to court after its shares were suspended from trading in stock exchange markets. The L&H stock has already fallen by more than 90 percent since its record high in March this year when it was worth more than 70 dollars a share. Copyright XINHUA NEWS AGENCY

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