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Technology Stocks : Icon CMT Corp. (ICMT)
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To: Toby Zidle who wrote (117)9/17/1998 8:55:00 AM
From: cyberman  Read Replies (1) of 128
 
First off the story is definitely true because I read about it briefly yesterday from a Bloomberg terminal, probably was a Bloomberg story that the Dow and Reuters were late in picking up - I will post the details today when I get the chance.

Interestingly the lawsuit wouldn't push the stock short but conversely long I believe because it was arguing that the buyout price was too low and that the sale should be blocked. It also stated that the Company should shop around for better offers because the plaintiff believes that the COmpany is worth more than $12.
If the shareholder wins, the court is basically blocking the sale because $12 is TOO LOW of a buyout price and is thus unfair to shareholders

Certainly interesting...I am long by the way and with this lawsuit it seems like a win/win situation - notice how Qwest has done since the announcement - The STREET liked the ICMT deal big-time.
That is HUGE - As a long, I don't know when I've been happier to see a lawsuit
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