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Technology Stocks : Avant (AVNT)
AVNT 30.25+0.9%Dec 9 3:59 PM EST
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To: Cosmo Daisey who wrote (844)10/5/1997 12:18:00 AM
From: Bill Wexler   of 3441
 
Wouldn't surprise me. Costello himself had a large short position in Avant - however he publicly disclosed it, and covered at a loss to avoid the appearance of impropriety.

I understand; however, that a few Cadence employees are being eyed by the SEC because there is some suspicion that they had contact witht the Santa Clara DA's office, and shorted Avant prior to the raid.

To be absolutely fair, Cadence is not squeaky clean in this case. This by no means excuses Avant's actions, but I'm wondering if this adds enough counterspin to affect the criminal trial, where the standard of proof must be beyond a reasonable doubt.

I'm still holding on to my short position, but this does worry me. I would be much more comfortable if Costello and these Cadence employees did not trade Avant stock.
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