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Technology Stocks : Oak Technology (OAKT)

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To: Bonzo who wrote (4204)	11/21/1998 12:43:00 PM
From: Fred Fahmy	of 4335

What a disgrace. A couple years ago I bought OAKT at 17 after it had fallen from the 20's. I watched it drop to 6 after it was revealed that management had been misleading investors while selling shares themselves. Large write-offs and law-suits followed. After talking to the company several times, I came to the conclusion that these people had absolutely no respect for investors and were looking for the own interests only. I was personally mislead by investor relations just a couple days before the original earning shortfalls and first totally unexpected huge losses were announced. I waited for the stock to rebound and when it climbed from 6 back to 14 (I believe) I sold and was glad to get out with just a 3 point loss. I chalk this one up to experience. To me management and management integrity are critical when selecting investments and when deciding whether or not to keep holding. When I realized what a bunch of crooks these guys were, I came back to this thread to warn prospective investors. Some people did not appreciate my input, but I hope I helped out a few prospective investors. This latest offer by Tsang borders on criminal. How can it even be taken seriously. Under his leadership the company tanks (much of it originally due to his unethical behavior and the following lawsuits) and now he wants to buy back the company at these ridiculous levels. He is offering less than book value and not that much over cash!!! Is this guy on drugs!! I have never heard of such an outrage in my entire investing career. I really feel sorry for current OAKT investors. IMO, if anyone is sitting at an even point or even a manageable loss they would best be served to get out now. Anyone deciding to stick it out should reject the offer, support the new litigation, and vote to through Tsang out on his ass. This guy should be in jail not offering to buy out a company he has raped at the shareholders expense. Good luck to all, FF

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