Vivus, Why the Slide? Message Board

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Biotech / Medical : Vivus, Why the Slide?

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To: Nanny who wrote (3889)	9/24/1997 10:56:00 PM
From: Tunica Albuginea	of 3991

Nanny, Cabot/ Presstek/ C.Lutz: I am referring to a ~ '96 article in the WSJ were theu( WSJ) reported that the SEC was looking into allegations that at the SAME TIME that Carlton Lutz was reccommending Presstek to the Cabot letter subscribers, a) he was selling it, and b) his two sons who run the sep arate Cabot fund, also sold/or sold short,( I don't remember which. Subsequently Lutz defended himsself by saying that "he was just rearranging his portfolio in their fund ( with his sons ), because, "it had reached the neccessary valuation" and that the fact that this sale " occurred while he was reccommending it to his subscribers " was purely coincidental , and unelated ";also I think he sasid that " the needs of his subscribers were different than the needs of his Fund's portfolio ".Subsequently, in Aug 1997. Lutz settled with the SEC without admitting any thing wrong but promised " to abide by the SEC's rules in the future". I want to state that all of the above are based purely on what I remember from reading about it 1 year ago. I haven't been able as yet to locate the WSJ article.What I have said above therefore COULD BE COMPLETELY WRONG!!!, AND PEOPLE SHOULD THEREFORE READ IT with that eventuality in mind.If this thread is serious about pursuing the above further I will make further attempts to locate the article. The above of course pertains to Cabot& Lutz and not directly to Presstek which from what I understand has a unique printing press that is going to go places ( The Heidelberg press). TA

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