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Technology Stocks : Bay Networks (BAY)
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To: John Messbauer who wrote (3194)3/4/1997 1:33:00 AM
From: Vector1   of 4270
 
Plaintiff class action lawyers are a particularly low form of life. They represent only one interest and that is lining their own pocketbooks.
However we should not be especially alarmed. These lawsuits are almost always filed when a companies stock fall substantially in a relatively short period. Congress amended the securities laws last year making it much more difficult to win a class action suit. That is why you always see the forward looking statement language in most high tec company press releases. It provides a safe harbor for companies. When we were fighting prop 211 here in Calif which was an attempt by the Class Action Lawyer Scumbags to get around the Federal changes Intel sent out a letter to shareholders noting that in the last 6 years their stock has gone up 7 times in value and neverthless they has been sued 9 times in securities class action lawsuits. Obviously they have survived. Most of these cases are dismissed or settled for peanuts.
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