Had pleasant call with Rachel Havens, Adaptec IR, 2:40PST today. With regard to several issues raised here:
a. They don't have email on purpose: can't (or wouldn't?) respond in writing to IR questions, and feel it would only be frustrating to email questions and get no answers. Also she feels a give and takeis more accurate. I'm not sure I'm particularly happy with this answer, and I think something in writing is less easy to misinterpret than something said on the phone, but there it is for the record, and given what lawyers have done with loose lips email in the past, maybe it's a smart decision.
b. Why no denials on suits? They haven't been served with any suits yet, so have no specifics on what they are being charged with. Other than a general denial that they've violated any laws, it's hard to be very specific when you don't know what the actual claims are (and probably neither do the lawyers until they get their cases put together.) As an attorney, I can understand the reason not to respond to a suit which so far exists only in press releases.
c. They do have insurance which she believes would cover the threatened lawsuits. She did not know the deductible, and didn't know and felt they probably wouldn't publicly disclose the policy limits.
FWIW.
Chris Hodgkin |
