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Technology Stocks : Fastcomm FSCX (6 1/8), base now complete. Big Upside.
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To: Senor VS who wrote (617)6/15/1998 9:24:00 AM
From: Rick Smith  Read Replies (1) of 802
 
VS and Thread:
The article you listed is based on shareholder lawsuits. This is not the case here. Our Plaintiff, Gary Davidson, was an employee. Since he won a settlement he is now considered a creditor. It is at this point that a Bankruptcy Judge has the ability to decide if the suit was frivoulous and judgement incorrect as Madsen believes. If the Judge sides with FSCX, he can reduce the amount that Davidson recieves. In other words, he could give Creditor A 100% of the money owed him, Creditor B 100%, Creditor C 100%, and Creditor Davidson two cents. A Bankruptcy Judge has far reaching power and has this ability to overturn judgements without ever changing verdicts and risking appeal.
As to the delisting. FSCX is currently on the pink sheets. They were delisted by the NASDAQ and will return to the small cap board later this week, so the symbol will show up on your computers again. Some paperword apparently didn't get filed, that has now been filed to take care of this problem. The stock never traded at 1/8 as reported. It was an incorrect price and was taken off the print list later that same day.
Wish I had some good news, but I guess we're all just going to have to wait a little longer. Vendors and customers are supposedly taking the situation in stride for the time being as they were warned early on as to the possible strategy. Good Luck. R..
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