FPA Medical Management - FPAMQ Message Board

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Biotech / Medical : FPA Medical Management - FPAMQ

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To: men mailman who wrote (1013)	7/21/1998 11:04:00 PM
From: David Rosenberg	Read Replies (1) of 1110

< It May Not Be Over!! In reading all the nihilistic messages about how "its all over" these points struck me. (1) This used to be a company with peak market cap (at $40/share) of $1.8 billion! (2) today the market cap (at 1/8) is about $5.6 million. (3) Most of this money was apparently stolen by the insider selling and this includes the relatives and confidants of inside management (4) In an ideal world these crimes should be prosecutable by the SEC and there should be required a "disgorgement of profits" by these insider traders. (5) The actualization of the 1 billion dollar destruction would only be the judge's approval of cancellation of shareholder value: namely the clause of the Chapter 11 that zeroes out the shares. But perhaps if there was so much fraud the judge would not approve the petition and instead require shareholders to retain some equity. WE HAVE THE RIGHT TO ATTEMPT TO BLOCK THIS ANNIHILATION. LET'S NOT GO LIKE "SHEEP TO SLAUGHTER" (6) I am not a lawyer. Many Lawyers are involved with this case and some of you have already spoken to your attorneys. The honest shareholders likely have many causes of action against the dishonest management. If there was malpractice by Deloitte and Touche that's another cause of action ! Is it not possible that if you hold your shares you may receive value ("equity") for the shares in return for relinquishing claims. Did any one ask an attorney if such a future "settlement" could conceivably be worked out. If this line of reasoning holds true WHY SELL? for a measly 1/8 THIS MAY BE YOUR LAST CARD TO RETAINING EQUITY. "DONT SEAL YOUR FATE TO SELL FOR AN EIGHTH!" (to paraphrase Mr. Cochran) (7) I suspect that those who post messages urging you to sell at 1/8 are management in disguise they are the BUYERS so as to clinch a majority ownership in the attempt to shove the bankruptcy through the Court. (8) The honest shareholders should not fall for this trap! On the contrary let us take BACK the shares, call the special meeting, elect new loyal management and pick up the pieces of a potentially profitable company. (9)This is not a failed widget manufactury, it is Health insurance. (A SERVICE INDUSTRY). MONIES ROLL IN AND MONIES ROLL OUT. As long as one retains a percentage of the monies that pass through one is profitable, With honest actuaries and accountants this concept SHOULD HAVE BEEN A WINNER! (9) Could anyone run some of these arguments past your attorneys and post a response. It would be much appreciated.

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