If syquest is in the same business then I guess IMPX will have it all wrapped up.
Business Wire--April 10/96.
A class action has been commenced in the US Distric Court of California by plaintiffs Irving ravens, Robert Benzinger and Steve Wildt on behalf of purchaser of SyQuest Tech, Inc.
The complaint charges SyQuest and certain of its officers and directors with violations of the Securitied Exchange Act by making misrepresentations about SyQuest business, operations, new products, earnings growth and financial statementsand SyQests ability to continue to achive profitable growth.
The complaint alleges that by issuing these false and misleading statements, defendants aritifcially inflated SyQuest's stock price to a Class Period hight of $19-5/8 in July-Aug.95, allowing SyQuest's top insiders to sell 325,398 shares of the stock at as high as $19.per share , for almost $4.9 milion, before the true facts about troubled operations, diminished profitability, false financial staements and products failures were revealed and SyQuest's stock collapsed to as low as $4-7/8.
Hope this ifo will help your decision. |
