FASTCOMM (FSCX)...UP, UP, & AWAY!!! Message Board

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Technology Stocks : FASTCOMM (FSCX)...UP, UP, & AWAY!!!

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To: Getcher who wrote (152)	3/29/1998 12:48:00 PM
From: Ranchokid	Read Replies (1) of 173

Another lawsuit. I was just reading the fscx 10-q as filed on Edgar. For some reason this didn't show up when I accessed the report through the Yahoo quote server. It appears another former employee is suing them. This is just getting worse and worse. No doubt one of the reasons for the recent sell off. From the 10-Q: On March 5, 1998, the Company was served with a Third Party Motion for Judgment in an action styled Michael L. Donnelly v. FastComm Communications Corp., Circuit Court of Fairfax County, Virginia, At law 16886. Donnelly, a former officer of the Company who resigned in January, 1996, has sued the Company for breach of contract (involving the alleged promise to grant Mr. Donnelly stock options in 1993 when he joined the Company), insulting words/defamation and abuse of process. He seeks compensatory on each count not to exceed $1,000,000 and punitive damages on the second and third counts not to exceed $350,000. The Company believes it has meritorious defenses to this action and believes that the claim is barred by applicable statute of limitations. The Company intends to vigorously defend this action.

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