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Technology Stocks : CoSine Communications(COSN):
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To: TATRADER who wrote (43)5/16/2001 1:04:50 PM
From: caly  Read Replies (1) of 124
 
Just a couple of comments on that...

Past experience has taught me that in most cases, by the time you see the 144 filed on Yahoo and InsiderTrader, the shares have already hit the market. Most people do not file to sell and then sit on them, although sometimes that does happen.

If they think the company is going to be bought, there's no reason to file the 144s to get the buyout price. The only reason to file is to sell on the open market.

As to why Anschutz is selling, I have no idea. The name Anschutz and Cosine leads to a tangled web, and I haven't tried to sort it out.

Anschutz Investment Group is VC firm that gave money to Cosine pre-IPO. They got their shares for pennies a share no doubt. Even selling at $2 would be a killing for them.

Billionaire Phil Anschutz was the founder of Qwest Communications and also is Qwest's largest shareholder. As you probably know, Qwest is customer of Cosine's. I don't know whether this "Family Inv Trust" is actually the Investment group or Phil Anschutz' personal investment trust. He may have gotten a cut in the pre-IPO shares.

Regardless of which Anschutz was doing the selling, they no doubt did very well. Perhaps they just had other places to put their money. (Considering Phil Anschutz is worth something like $16 billion dollars, if this was his Cosine stock hitting the market, it's pocket change to him.)

That's about all I can say on that.
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