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To: Raymond Duray who wrote (5108)	6/7/1999 5:21:00 PM
From: Maurice Winn	Read Replies (2) \| Respond to of 29987

Raymond, I agree that frivolous and purely greedy lawsuits are not good and unfortunately, the legal systems tend to let a lot of those get into the court process. But in shareholder suits, there can be good reason to sue. To me it was obvious that Iridium was a crazy investment and I said so many times over the past 3 years. However, Iridium shareholders who were well aware of the criticisms and risks continued to choose to buy and hold Iridium stock. I can't recall anything which Iridium said which would lead me to conclude they did more than indulge wishful thinking. Shareholders shouldn't whine if they bought a dud! There are claims that insiders sold all their stock while saying things were fine and that could well be cause for complaint and litigation. But leaving aside the particular case of Iridium, it's almost a duty of shareholders to sue negligent and especially wantonly negligent and especially self-indulgent management. If everyone just accepts it, the next lot of management will do the same. See my previous post on ICO. Hopefully the management of ICO will take a careful view of shareholders' interests in light of the Iridium class action suits. Without the threat of being held to account, they are likely to just draw their salaries and perks and keep the ICO pork barrel going as long as they can. Maybe that was the case with Iridium too. I don't know. Maybe it was really just wishful thinking, which we all can be guilty of. We have to operate on the basis of hope to achieve anything at all and there is always something that can go wrong and it might be as simple as faulty judgement, which isn't a crime. Presumably the lawyers are doing the work for no charge on the expectation of reward if they are successful. That seems reasonable. It will not cost shareholders or Iridium much at all if the cases are without merit. If they are with merit, then it will be a good warning to directors and management in all companies to watch shareholders' interests before they feather their own nests. Let's hope ICO directors and management are doing the best for shareholders rather than just keeping the whole thing going because they don't know how to stop and don't want to because it would be bad for their own pockets and interests. This is the sort of reason that the USA is doing so well. I'm happy to invest in USA because they really do punish the baddies from the President on down. That's great! Yayyy for the USA. Maurice