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Technology Stocks : Corel Corp.
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To: Vanni Resta who wrote (4834)2/24/1998 1:28:00 AM
From: Tommy D  Read Replies (4) of 9798
 
Well, it appears you were right about the suit but this lawsuit also appears to be much different than the one you had been focusing on. The press release seems to indicate a continuing misstatement of financial information through the period in issue. That is much different than suing for the misuse of confidential information by a senior officer for his own profit. The lawsuit filed on Friday is also more consistent with many lawsuits in that they are filed within a reasonable period of time; in this instance 30 days, after the cause of action arose, being the release of the restated financial results. I would suspect that the company and its CEO would be more concerned about the type of lawsuit you have discussed as it is much more focused. I would expect, damages would be easier to prove to the extent that you could establish, from a legal perspective, that inside information was used in an improper fashion.

I was away last week and read the releases regarding once again changing the method of reporting revenue. From my perspective, that is very very discouraging. I may have to reluctantly admit that this company is in serious trouble. If I understand the latest release, they are once again changing the method of reporting revenue and I understood that to be a large part of the restatement of the results for the last three quarters. If the company is truly interested in its shareholders, it should explain why this change wasn't made in December and January with the year end adjustments and restatements.
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