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Technology Stocks : FORE Inc.

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To: Elmer Flugum who wrote (12431)	5/19/1999 11:50:00 AM
From: Sibaris	Read Replies (1) of 12559

Len, Here it is, taken from the Technology Briefs of WSJ today's edition: ============================= Shareholder Sues Fore Systems A Fore Systems Inc. shareholder sued the Warrendale, Pa., maker of Internet-switching equipment and its directors, accusing them of the "improper" granting of stock options to seven senior executives while the company was in discussions with Britain's General Electric Co. PLC about being acquired. GEC on April 26 announced a $35-a-share offer for Fore Systems. In its lawsuit, which seeks class-action status, Colorado partnership Harbor Finance Partners said that the stock-option awards approved after talks with GEC began in March "are the results of breaches of fiduciary duty" by the board, "including the duty of loyalty." The option grants were the subject of a Wall Street Journal article on Friday (see article). A Fore Systems spokesman said the company "believes the suit to be completely without merit and intends to defend against it vigorously."

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