Adaptec (ADPT) Message Board

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Technology Stocks : Adaptec (ADPT)

ADPT 13.75

+0.2%

3:59 PM EST

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To: Starowl who wrote (986)	2/2/1998 3:35:00 AM
From: Schmedley	Read Replies (2) of 5944

Hi StarOwl It appears that the only thing holding this company's share price down at this point is the slew of lawsuits (a new one was announced last Friday after the market closed) and managments ill advised stance of silence. If there ever was a case where even the most general denial of the allegations was necessary, this is it. I called investor relations last week and after being transferred through 4 different people I was told that the company does plan to respond to the allegations but that they couldn't tell me when. My guess is that they will emphatically deny any wrong doing as soon as they've accumulated the 10 million share buy back that they announced last week. Which of course would cast doubt on their innocence in the first instance of withheld information. Without any response at all, these (5) class action lawsuits could languish (along with the stock) for months on end. Incidentally, I sold my shares last week at 22; Good company, good products, BAD MANAGEMENT. jmho Schmedley

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