XOMA. Bull or Bear? Message Board

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Biotech / Medical : XOMA. Bull or Bear?

XOMA 32.31

+1.4%

Nov 26 3:59 PM EST

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To: Edward Paule who wrote (7149)	9/4/1998 12:03:00 AM
From: opalapril	Read Replies (1) of 17367

>>If they truly believe this, then I can imagine them drafting the documentation right now to put to a shareholder vote an authorization to expend a certain amount of company funds to buy back company stock on the open market at these currently ridiculously low prices.<< Shareholder approval is not needed for this. Doesn't look like a prudent use of company money, either. As for surveying us so management could decide when to begin inside purchases for themselves, wasn't it Nixon who said, "But that would be wrong." To me, the only suggestions that make sense out of the survey are (1) for some reason which is probably litigation-related the company wants to assay one or more potential classes of shareholders based on some key date or event; or (2) it was a bonehead move by the CEO or maybe the accounting firm hired to audit Xoma's books. I just don't buy the story it was to smoke out shorts and it worries me Ellen would feel the need spin such a transparent fiction.

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