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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: EightyEight who wrote (23537)	11/4/1999 8:01:00 PM
From: Mike E.	Respond to of 108040

PVSW lawsuit filed. Same firm that always files these thing after a huge tanking. Any thoughts? The story is on the wires. I don't think it's good news. :+) However, money has been made on HIFN as it bounced around from the mid $30's to the mid $40's and it had (has) many lawsuits against it. I think the shorts will still have to cover. Mike.

To: EightyEight who wrote (23537)	11/5/1999 3:33:00 AM
From: swisstrader	Respond to of 108040

Play of the day as we all know: Cobalt Networks (COBT) N/A: server appliance company prices 5 mln shares at $22, at the high end of the upwardly revised price range. Goldman Sachs is the lead underwriter.

To: EightyEight who wrote (23537)	11/5/1999 3:54:00 AM
From: swisstrader	Read Replies (1) \| Respond to of 108040

88 - on class action suit against PVSW, this is pretty SOP'ish (standard operating procedure) and these things rarely go to trial. The lawyers here (Milberg Weiss) will attempt to force PVSW into a settlement (which usually pays for the firm's legal bills with little left for the actual class action plaintiffs). The class action against PVSW will have limited affect on the price of the stock. Furthermore, it is unlikely that PVSW will ever pay a dime to Milberg or the class action plantiffs as a result of the lawsuit. All companies have insurance to protect them against such losses. PVSW's insurers may get hit for a settlement or damage award, but it will not come out of PVSW's coffers. Money managers and the street know this, and it is the reason class action lawsuits have very little effect on stock price unless there are legitimate allegations of intentional fraudulent actions, which is not the case here. On a separate note, check out the chronology of events surrounding the NEON situation, the class action suit filed on Sept 1 and then the stock price before and after: Wednesday September 1, 6:01 pm Eastern Time Company Press Release Spector & Roseman, P.C. Announces Class Periods for Securities Class Action Lawsuits Against New Era of Networks, Waste Management and Evans here is NEON stock price history, around that time 2-Sep-99 Closed at 16.1875 1-Sep-99 Closed at 17.25 31-Aug-99 Closed at 16.75