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Non-Tech : Any info about Iomega (IOM)?
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To: Gary Wisdom who wrote (33316)10/24/1997 5:59:00 PM
From: D.J.Smyth  Read Replies (2) of 58324
 
Gary, i'd be buying on any non-sustained dip. the market is slowly maturing in relatioinship to IOM. Nomai sees IOM as a $600 million pound slice of business. The lawsuit is nonsensical.

Here are some points gleaned from Iomega and my knowledge of Nomai's past:
(a) Nomai is known for its frivilous suits in other areas of technology. Relative to their history they've made several claims on a variety of technical issues most of which have continued in court for several years and remain unresolved.
(b) IOM's patents were granted by the US Patent Office. The probability of breaking a US Patent is extremely small and generally takes several years to resolve. Iomega's suit against Syquest will not be heard until late 1998 as an example.
(c) In the meantime XHD disks (if available - which they are not - so this part of Nomai's claim is a factual lie since, according to Iomega no disks have been found in the U.S.) will continue to ruin Zip disk drives and invalidate Zip warranties.
(d) If Iomega discovered a single XHD disk for sale in the U.S., they would file an immediate lawsuit against Nomai.
(e) Iomega believes that the suit is pre-emptive, because Nomai knows that they are going to be sued in the U.S. relative to the XHD
(f) Iomega states that to their knowledge none of their retailers in Europe have made selling agreements with Nomai over the XHD. If such agreements were found it would violate continuing court injuctions against Nomai in Germany and France against Nomai's patent infringement

It is possible that since Iomega has a lock on the disks and drives in the U.S. that Nomai is using this pre-emptive strike ONLY TO OBTAIN FULL LEGAL AND PATENT DISCLOSURE BY IOMEGA. Nomai wants heretofore nondisclosed copyright information. It's called a FISHING EXPEDITION. You throw in a line with a worm, poke and hope. In the meantime the lawsuit will take at least two to three years to resolve. The market correction, if any, should be overcome.

Will the market react negatively? Dang, I hope so, because prior to Comdex and/or Decmeber it should rebound handsomely. It will be another opportunity to let shareholders get aboard who feel like they missed the boat on IOM's first romp to $30 in over a year.

Do we all feel better now? Nighty night.
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