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

To: pat mudge who wrote (12540)	8/4/1999 2:20:00 AM
From: Freeflight	Read Replies (1) \| Respond to of 18016

Stock Investigation of Terry Matthews' old "MITEL" partner and current friend....hmmmmm.... and those on this thread wonder why we don't blindly trust in CEO's/ freeflight OTTAWA (Reuters) - The chief executive of software-maker Corel Corp. (Nasdaq:CORL - news) said Tuesday a probe into allegations of insider trading against him by a Canadian regulator has been tainted by a newspaper account of the investigation's conclusions. The National Post said Tuesday that staff at the Ontario Securities Commission (OSC) have completed a 21-month investigation of stock trades by Corel CEO Michael Cowpland. It said their report, which OSC senior management received last month, recommended that action should be taken against Cowpland under the Ontario Securities Act. ''There hasn't been any discussion of the so-called report with my lawyer, which is normally the due process. So in other words, the due process has totally been violated,'' Cowpland told Reuters. ''I think there's some question about impropriety of information here. Which is highly questionable.'' The OSC, Canada's major securities regulator, would not comment on its investigation of the August 1997 trading activity of Cowpland, who heads the Ottawa-based office and graphics software firm. The company is a minor competitor to Microsoft Corp. (Nasdaq:MSFT - news), the software industry's dominant supplier. The review stems from Cowpland's sale of 2.4 million Corel shares, for C$20.5 million, one month before the firm reported a surprising $32 million third-quarter loss, sending the stock into a 40 percent decline. Cowpland sold his shares when they were trading between C$8.20 and C$8.80. ''I can't confirm what stage the investigation is at,'' said OSC spokesman Frank Switzer. ''When that investigation comes to a conclusion and we take action, whether there is action or we decide to close the file with no action, we will make an announcement.'' Two commissioners will decide if the OSC pursues action against Cowpland. Its options include filing charges that could result in jail time and a minimum C$1 million fine. The commission could also conduct its own quasi-judicial hearing, with less severe penalties than a criminal action, pursue both civil and criminal actions, or decide there is insufficient evidence to take any action. ''There's quite a process that they go through if there is going to be a hearing, which hasn't even been started yet,'' Cowpland said. Cowpland said his lawyer, Nigel Campbell, at Blake, Cassels & Graydon in Toronto, will receive a copy of the report when it is completed to review its accuracy and make clarifications. ''We're just basically continuing on, business as usual,'' Cowpland said. ''This isn't really affecting day-to-day business at all.'' It appears the market is not overly concerned with the news report either. ''I don't put a lot of emphasis on it,'' said Jean W. Orr, analyst at Nutmeg Securities Ltd. in Connecticut. ''So many of these suits, in particular, just end up as non-events. Either they're settled or they're dropped.'' Cowpland, who said he sold the shares to pay off personal loans, maintains the investigation is routine and that he will be vindicated. Shares in Corel went downhill Tuesday, dropping 55 Canadian cents, nearly 8.5 percent, to C$6 on the Toronto Stock exchange in moderate trade. ($1-$1.49 Canadian)

To: pat mudge who wrote (12540)	8/4/1999 10:47:00 AM
From: Tunica Albuginea	Read Replies (1) \| Respond to of 18016

pat, what can we conclude from today's activity? 1st half hour of trading only 11000 shares traded at 26 5/8. In medicine, signs of disease have greater meaning & validity if they are extreme: either strongly pos or strongly neg. Here with NN, we have NO VOLUME at the start. It could mean: -there are no sellers -folks think 26 5/8 is fair value. -there is no short selling;( shorts are defined as brave souls in fair weather; it appears that the weather may turn stormy ahead for them ). -people don't seem that scared that NN will not meet eps -previous day's price swings have not phased anybody out of the stock And I will venture a guess: -people are waiting for an announcement. Now, 1 hour into trading volume has swelled to a big fat 75000 shares and price is up a fat 1/16 th!!! What do those extremes mean? -Insttitutions are buying again.Institutions are defined as elephantine structures with lots of cash who are very a)self conscious about their weight and b)feel that others think that they are rich and thus want to take advantage of them by jaking up the price of a stock. So these brave souls go to extreme lengths to avoid being noticed by the hordes of day traders out to do them in. -so they will buy in teenies and decimal fractions. A little at a time. They agonize over every trade if it's 2 cents over. - at times they even act as bullies:selling large amounts of stock to scare them little day traders. Serge for example could be mistaken at first glance for one of those bully type institutional scaremonger,shortsellers except for the fact that he has reassured us that he isn't so that's good. Well, after the dust has settled down on NN from the last few days of furious trading and price swings and so far 105 000 shares traded I conclude, some would say bravely, that institutions are again trying to pick up stealthily more shares and that they perhaps know something we don't. I guess time will tell, TA -