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Non-Tech : Amati investors

AMTX 1.530

+0.7%

Feb 11 3:59 PM EST

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To: AK2004 who wrote (3576)	9/9/1996 6:58:00 AM
From: Robert Crowley	of 31386

Albert, an interesting and timely article appeared in the Sunday New York Times, "An Insider Gets Rich On Trades And Walks" by Floyd Norris. Here is the gist of the article: James O'Hagan was an attorney on retainer for Grand Met Grand Met decided to make an offer on Pillsbury O'Hagan buys stock and options in Pillsbury and makes $4Million profit Jury finds O'Hagan guilty and judge sentences him to 41 months prison US Court of Appeals 8th Circuit reversed the decision: it was unethical but not illegal. Next stop: Re-review by all 8th Circuit judges and then maybe Supreme Court The 8th Circuit has contradicted the 2nd, 7th, 9th, and 3rd Circuits and agreed with the 4th Circuit. Their opinion was that O'Hagan could not trade Grand Met due to duty to the shareholders but could trade Pillsbury! My point is not that Amati is right or wrong, but that this is a confusing area for the SEC and some of the highest courts in the country. It's entertaining to discuss the situation here, but probably futile! Profit and profitability, Robert

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