Zitel-ZITL What's Happening Message Board

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Technology Stocks : Zitel-ZITL What's Happening

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To: David M. Cleary who wrote (7475)	5/30/1997 3:33:00 AM
From: Bill Wexler	of 18263

Was Zitel in on the scam - or a victim? You raise an interesting question. I'm having trouble figuring out Zitel's part in the Matridigm fraud. If you check all the past press releases, it seems that Jack King tried to toe the line on the hype - so he can claim that he was simply misled by the Matridigm execs. It was mostly "Diamond" Jim Brady's clever comments to carefully selected mouthpieces (particularly Dave Stewart and Emerald Research) which caused the wild speculation and subsequent stock volatility. Unfortunately, there was quite a bit of insider selling during the runup - but that could be counterbalanced by the argument that this was the first (and last!) time Zitel stock would see these levels - so why not get out now? After all, Jack is now approaching his 65th birthday...and maybe he's looking to retire. The key to finding out who was really in on this is to check out who was accumulating the stock from early '96 to September '96.

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