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Technology Stocks : Ampex Corp.
AMPX 12.73+13.1%Nov 7 9:30 AM EST
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To: funtimes_52 who wrote (5466)5/6/2008 2:42:20 PM
From: phoenix2  Read Replies (1) of 5839
 
You can count on one thing DIYD and that is Counsel advised them to do so.

Probably last minute effort by Ampex management (on advice from counsel) to show judge that they are not guilty of indolence in taking Ampex to Chapter 11 bankruptcy. The bankruptcy judge will see right through them when the attorneys, representing the shareholders, presents its case against the current management. If management could have prevented the contract award until after the court hearing, they would. The contract award was untimely for Ampex management and Hillside's rush to Chapter 11.

I had the same reaction like you funtimes. It was so odd and strange to see Ampex make this positive press release just before their bankruptcy court hearing scheduled on May 14, 2008. It was so unlike and unbecoming of management to make press releases, especially to us old timers who have owned this stock for years and have observed their secretive actions and pattern over time.
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