WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 163.92

+3.9%

11:58 AM EST

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To: Ausdauer who wrote (26430)	7/24/2004 12:49:07 AM
From: NHP	Read Replies (1) of 60323

From the Lee and Li Website, May 2004: "The Company Act prohibits a company from acting as a guarantor of any kind, except as permitted by law or its articles of incorporation. The purpose of this provision is to ensure the stability of the company's finances and to prevent irregularities." I don't know if the above pertains in any way to the settlement between Lee&Li and SanDisk for the stolen shares of UMC, but the thought is intriguing. A lawyer might argue that the settlement between Lee&Li and SanDisk violates the Company Act, and is therefore illegal. If that were the case, Lee&Li would have no choice but to stop making payments for the losses sustained by SanDisk. Under this scenario Lee&Li might even sue SanDisk to recover payments already made under the illegal settlement agreement. The Company Act might ensure the stability of Lee&Li's finances and prevent irregularities. I like that! NHP

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