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To: orkrious who wrote (22399)	7/5/1999 9:03:00 AM
From: Ian@SI	Respond to of 25960

A very encouraging story appears in the WSJ... A federal appeals court ruled that securities fraud suits must be dismissed at the outset unless they contain detailed evidence of deliberate fraud, marking a victory for high-technology companies and others facing such suits. Whole story available to subscribers at: interactive.wsj.com A brief extract: ... The territory covered by the nine-state circuit court includes California's Silicon Valley, home of companies that have been frequent targets of securities suits. Those suits typically follow a drop in stock prices and claim that company insiders issued misleading statements while selling their own stock at a profit. ...