Rambus (RMBS) - Eagle or Penguin Message Board

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Technology Stocks : Rambus (RMBS) - Eagle or Penguin

RMBS 101.61

+2.8%

Dec 5 9:30 AM EST

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To: Ibexx who wrote (1040)	8/13/1997 11:26:00 AM
From: Scott Maxwell	of 93625

> I had no idea about the early release of restricted shares, > and I thought this would be something "chiseled in the stone" > as mandated by SEC rulings. Apparently not. No, the standard lockin agreement is between the investment bankers and the company shareholders. The bankers are free to release the shareholders at any time, but they rarely choose to do so. In this case I think it was felt that the limited supply of stock was leading to excessive volatility and momentum manipulation, which in the long term would be bad for the company. The SEC rules do, however, require an announcement of the change in terms and the upcoming sale. You can quibble about whether they should have chosen to announce this weeks earlier, but I see nothing abusive here.

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