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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ)
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To: RT who wrote (4282)1/4/1998 3:59:00 PM
From: LoLoLoLita  Read Replies (1) of 23519
 
>>Can anyone give me a reasonable explanation why the company refused >>to answer such basic questions? What are they trying to hide?

RT, I listened to the entire CC twice. It seemed to me that Leland
didn't give out the week-by-week production figures or the
mid-quarter cash position, or the mid-quarter share buyback size,
because (1) the questioners were very hostile and seemed fishing
for information with which to paint him a liar, and (2) SEC
does not require a company to give out such mid-quarter figures,
and if he didn't give out that information, it couldn't be used
as the basis for a lawsuit.

Do you follow other tech stocks? If so, you probably know that
a whole bunch of companies got hit with class-action "crybaby"
lawsuits in November and December: ASND, CS, COMS are the few
among my holdings. It was prudent of Leland to NOT give out the
information prior to the end of the quarter. Let's be grateful
that VVUS did not get saddled with such a drain on mgmt. and
bottom line.

David
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