Stan - Believe me, I share your frustration with the recent events regarding RSYS. Having listened to the conference call, I can tell you that Brian Turner and Glen Meyers were very upfront about everything - including the lawsuit and the SEC "inquiry." The letter they received from the SEC, I read this afternoon, in no way alleges any wrongdoing on the part of the company or any individual. It was a run-of-the-mill request for information - the same type I'm sure is sent to behemoths like MSFT, INTC, KO, & MRK on a weekly basis. So, either the lawsuit is groundless, as Meyers & Turner maintain, and this is much ado about nothing, or they're lying right through their teeth even as we correspond. The SEC is obligated to look into any allegations of wrongdoing - it doesn't necessarily mean they come up with something every time. The call was very positive, in my opinion, and this is going to be nothing but a bad memory soon, particularly if the shorts get squeezed.
I noticed that Jensen Securities, Cowen & Co, and JP Morgan all stood behind the company today with their comments. Very impressive. Morgan's got $1.89 for '97, Cowen $1.82, and Jensen $1.50. Every one lined up behind the company.
Time will tell, but I'm behind RSYS until I know for sure I've been betrayed.
Josh |
