Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (41321)	3/31/1999 8:54:00 PM
From: waverider	Read Replies (1) of 95453

Class Actions and OT: I don't know what the 10K says, but the facts are that the company LIED about their revenues from Europe for the last THREE quarters. Hence the stock drop from $19 to sub $3. The little 7/16ths rise today is meaningless because the Street, as with most people, don't like liars. It will take a very long time to get anyone to trust the company anymore. Unfortunately I didn't trust the street's opinion via the stock price drop and rode the stock most of the way down. Put was was left into FGI and QCOM awhile back. Class action lawsuits are coming out of the woodwork on this one too. BUT before anyone jumps on the "only the lawyers get rich" on these kinds of things...I just got called by a lawyer handling another class action suit dealing with a company I invested in four years ago...a NASDAG company that made computer projection systems. Anyway, I'm getting about 35% of my loss back. Not bad. <H>

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