Universal Medical Sytems (UMSI) Message Board

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Microcap & Penny Stocks : Universal Medical Sytems (UMSI)

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To: JPS who wrote (779)	1/2/1998 3:52:00 AM
From: Skaar	Read Replies (1) of 1672

HI JPS: Most of these cases of class action shareholder litigation involve a pattern of fairly serious misrepresentations. The cases are so uniquely fact dependant that it is hard to make general statements about them. There is a fairly liberal standard for information that is actually released by a company. Basically, if there is a grain of truth to it, and it is not grossly misleading, it is OK. Releasing 100% false information amounts to fraud and of course is actionable by those shareholders who were damaged by it. I think where most of these companies get into trouble is where they withhold information that would have honestly impacted a shareholdes decisions regarding whether they should continue to hold the stock or not. Even fairly well run companies run into this pitfall from time to time. Skaar

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