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Technology Stocks : Osicom(FIBR)
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To: Mama Bear who wrote (9544)4/24/1999 6:51:00 PM
From: Dennis G.  Read Replies (1) of 10479
 
Gee, what a surprise. Bill Alpert regurgitating the same report that Chris Byron regurgitated that Bloomberg regurgitated several times before it had its desired effect. Boy I'd call that really in depth journalism. And all brought to you by the nice guys in Boca Raton.

Notice how they still claim that Osicom had "valued" the contract at $90 million. Of course, they don't tell you that that was just their upper end estimate of potential revenue over a 2 year period, based on the customer's projections. The true "value" of the deal was only about $9 million over 2 years, assuming optimistic 10% margins. That's all it was worth.

I find it truly incredible that no one is pointing any finger at all at the customer in any of this. Obviously because they can't make any money off of them. No doubt Osicom made a big mistake in this whole PDA fiasco. But it is not a crime. They should have sold that stupid Far East division months ago.

These lawsuits have almost no chance of success. You can't prove any fraudulent intent or misrepresentation based on the July release. And that is the only release in question. The interpretation of that is highly variable and strictly up to the reader. Nor can you prove that the stock was "artificially inflated" based on the release. One quick look at the chart will kill that. No doubt Osicom can get just as many "expert" opinions to support them as the ambulance chasers.

The irony is these guys know that they have little chance of winning and no chance of getting any significant settlement in the case. They don't care since that was not the objective. The objective, of course, was just to nosedive the stock, which has succeed brilliantly.

Dennis
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