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Non-Tech : Cityscape Financial (CTYS)

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To: William Minich who wrote (1517)11/4/1997 8:06:00 AM
From: Zeev Hed  Read Replies (1) of 2544
 
William: For a change, I agree with you completely. There was no material information that the company did not disclose in due time. Anyone reading the disclosed documents related to share registration and the floorless convertible preferred should have been aware that there are problems in the operation. Firts, the fact that these instruments were floorless by itself indicated thatthe company was in financial straight.

This law suit is another ambulance chasing exercise. As a matter of fact, all the defense has to do is pull out my postings on this thread in the middle of the month (and I was a good week or two late getting to these documents) and show that all required information to foresse problems ahead was there for the investing public to review and act upon. The sad thing is that this law suit will now divert management time to their defense rather than to revitalising the company.

Zeev
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