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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: pat mudge who wrote (12495)	8/1/1999 11:38:00 PM
From: Serge Collins	Read Replies (2) \| Respond to of 18016

Rumours and Newbridge. Many on this thread are convinced that newbridge will soon be bought out or merge with another company. Obviously those who express this belief are unaware of recent rules brought in by the Toronto Stock Exchange, the same rules that obliged Newbridge's COO to issue a denial last week. The new rules aim to prevent rumours, unfounded or not, from effecting a stock price. If a stock moves sharply because of rumours in the market place, as happened to Newbridge one day last week, the TSE asks the company to either confirm the rumour or deny it. Many companies in Canada, Imasco and Eaton's to name just two, have had to do just that in the last month alone. In Imasco's case, it was to confirm a rumour that the British conglomerate BAT was looking at buying them, in Eaton's case, it was to deny a rumour that Federated (or some other party) was looking at taking them over. In any case, the denial last week by Newbridge is a clear and absolute refutation of the takeover rumours swirling around the company. If there were any truth these rumours, the company would have had to admit it. So those of you who have been promoters of the different takeover scenarios can rest easy, there is none in the works and the company has just thrown cold water on that idea. Besides, would an insider sell 100,000 shares last week if the company was in talks to be acquired or to merge with another company? Come on, give us all a break with this stuff. Newbridge, Cabletron, 3Com have all been subjects of rumours this year and each time the stock has shot up only to come back down when the rumours prove false. Sadly, most of these rumours can be traced to one source -- thestreet.com. Someone needs to put a muzzle on that idiot Cramer, because a lot of people are being hurt by this sort of cheap, underhanded, and frankly, disgusting antic.