Imclone systems (IMCL) Message Board

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Biotech / Medical : Imclone systems (IMCL)

IMCL 0.159

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Oct 5 5:00 PM EST

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To: Madharry who wrote (1910)	1/25/2002 2:19:05 PM
From: Bob Rudd	Read Replies (1) of 2515

One interesting note on insider selling. The Waksal Bros' shares were dumped on a margin call. One way of looking at that is that it wasn't voluntary so doesn't represent a 'no vote' on value and future prospects. I once played on insurance broker, EWB, based on this when the most of the CB's shares were dumped on a margin call while he was on vacation. This turned out to be a mistake and in the aftermath I wondered if the 'margin call' wasn't actually a disguised put. A 'conspiracy theory' explanation for what's occurred here could be that the drug application was screwed up because the drug doesn't work and the 'margin call' is a way to exit the shares. This is probably not true, but it's not implausible.

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