And down she goes...
(Oh no... I just saw that Rocky and I agree here.)
- Michael Coley
- wwol.com
SyQuest Technology Unaware of Reason for Heavy Share Trading
FREMONT, Calif.--(BUSINESS WIRE)--Oct. 27, 1998--SyQuest Technology Inc. (Nasdaq:SYQT - news), Tuesday said that it was unaware of any reason for the unusually heavy trading in its shares on the Nasdaq Stock Market Monday. The company's stock was the second most actively traded issue on Nasdaq.
The company said that it had concern that the large trading volume accompanied by the recent rise in its stock price might have been fueled by speculation about possible strategic partnerships.
In an earlier news release, the company disclosed that it had retained CIBC Oppenheimer as its investment banker to assist in attempting to restructure its capital accounts, raise additional financing and to advise the company with respect to acquisitions or alliances, among other things.
Many discussions have taken place, but to date none have led to any firm proposals. While such discussions are continuing, there can be no assurance that those discussions will reach a successful conclusion, or that if successfully concluded, would lead to any benefits to existing or potential shareholders.
This news release contains forward-looking statements that involve risks and uncertainties, including competition in the marketplace for the company's products and other risks detailed from time to time in the SEC reports filed by SyQuest, including its most recent reports on Forms 8K, 10K and 10Q.
Note to Editors: SyQuest is a registered trademark and the SyQuest logo is a trademark of SyQuest Technology Inc. All other brands or trade names are the property of their respective companies.
--------------------------------------------------------------------------------
Contact:
SyQuest Technology Inc., Fremont
Henry Lo, 510/226-4000
-------------------------------------------------------------------------------- |
