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Technology Stocks : CBTSY
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To: Waterboy who wrote (370)11/30/1998 11:44:00 AM
From: Rob S.  Read Replies (1) of 454
 
It sure has gotten quiet on this thread recently. I talked with a couple of the attorneys handling lawsuits against CBTSY and it's management. They have found out enough about the events leading up to the stock sell-off to accuse management of outright fraud and deception. Those are strong words, even for such lawsuits. I've seen other lawsuits in which management really jacked around investors that stopped short of that bold accusation. One attorney assured me that management knew well in advance that the structure of their sales were changing and earnings and sales momentum would be hit hard but then went on to tell the investment community that things were basically on tract. This was done while management was cleaning out a fortune in personal wealth. Shame, shame . . . now every other class action law firm in the country seems to be lodging a suit against CBT!

The firms have found several large investors and institutions who have joined the lawsuits. Motions will be filed this week or next to consolidate the various suits under the jurisdiction of California courts. Once that is resolved, a docket will be assigned and preliminary hearings will take place. This is shaping up to be quite a battle for such a small company. But they still have a way to go to be like Bill.
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