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Non-Tech : ZOLT
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To: Mike M who wrote (571)1/6/1998 8:53:00 AM
From: aatkinson   of 970
 
Let me be more specific regarding Presstek; I was trying to keep it short since PRST is not ZOLT. The reason that the managers were fined by the SEC is because they knowingly distributed copies of the Cabot Newsletter, part of which they edited, in which their earning projections were inflated. Since the copy of the newsletter was edited by them, to correct negative information, the SEC ruled that they should have edited the positive information (which they knew to be false) as well.

My only point of the paragraph in the previous post is that you can't always believe the claims of the CEO and CFO, and that there are numerous examples of them claiming short-seller conspiracies to debunk legitimate rumor. I also feel that it takes quite a bit to be fined by the SEC today, and have more faith in the honesty of the SEC than I have in some of our corporations.

How all this will play out regarding stock price, remains to be seen. Since I still hold PRST in my portfolio, I hope the negative publicity has no effect.
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