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Technology Stocks : (SGI) Silicon Graphics and Related Companies
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To: jdsh who wrote (991)10/27/2006 10:59:20 AM
From: R2O  Read Replies (1) of 1015
 
On a personal level if I owe people money and I tell them that I am re-inventing myself and will make me a lot of money very soon

SGI actually said: "sit tight, we have things in hand till the end of the year. We hope everything will be OK"

At the same time they were arranging for a bankruptcy. If you did that you would be justly accused of fraud. Why would SGI officers not be so accused? At the same time, they were (in anticipation of bankruptcy) creating deals for themselves.

We foolish stockholders, willing to accept business risk, were purposely deceived into believing the statements of management. This is fraud.

I would think that these actions come under the civil RICO statutes. Anyone know the statute of limitations on RICO?

Deals made in anticipation of bankruptcy are (AFAIK) invalid. I would think any compensation or employment contracts and agreements would surely be made in anticipation of bankruptcy since the very subjects of those agreements were negotiating for bankruptcy.


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