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Technology Stocks : Stock Swap
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To: Will Lyons who wrote (15133)8/3/1998 1:00:00 PM
From: Andrew Vance  Read Replies (3) of 17305
 
*AV*--I agree with your assessment but believe the millions of shares sold on the steep decline were not sold by insiders. There are rules covering this and my friend is restricted (an was not interested in) from further sales. I think the shares were a dump of the 4 million purchased on the open market on the secondary. Apparently the investment bankers and their clients took a beating as the industry went down the crapper. There was another acquisition and I do not know the terms of that agrrement with the pricately held company. If we are talking about the same company, I doubt that the acquired principals have dumped anywhere near the millions you spoke of. I think it was disgruntled secondary offering buyers that bit the bullet and took their lumps.

I will re-iterate, I agree with you and the repurchase of shares seems to be the best thing going for them.

BTW-I do not think it hit the wires yet but the CEO of ADPT may have resigned on Friday 7/31.
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