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Technology Stocks : RadiSys Corp
RSYS 1.720+0.6%Dec 11 4:00 PM EST
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To: Josh Frankel who wrote (334)1/31/1997 7:53:00 PM
From: Zeepascal   of 1472
 
Josh I agree with your post entirely. If Barron's has in their update section tomorrow a negative article on Radisys without any mention of better than expected earnings I will become somewhat more suspicious of a concerted effort by shorters in this issue. The problem is that Radisys management cannot win this situation. If they exercised bad enough judgement to hire someone who would later allege malfeasance in the absence of any such activity it shows that they did not show due diligence in evaluating such a major hire. If there is any merit, however remote, to the ex-VPs allegations then management is in trouble. They will be sued (in vain) by shareholders who would lose a ton of money. I am going to hold on and possibly lose a ton of money but my feeling is that if what the VP is saying were true RSYS management and accountants being aware that they are being investigated by the SEC and others would stop "cooking" the books and earnings should now be declining to what the "real" numbers are. Earnings now are much better than when the VP was on board so whatever the problem is it must be ongoing. Because RSYS is such a small company it may be more readily pushed around than INTC and IBM which have very questionable but very legal accounting practices. Early next week should be rough and we may go all the way down to 38 briefly but I hope we get some support there. Jeff and others I don't blame you for bailing out - I believe management was not prepared for this lawsuit question at the conference call and should have issued a written statement rather than an unprepared verbal response.
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