Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (56562)	12/9/1999 12:04:00 PM
From: Razorbak	Read Replies (2) \| Respond to of 95453

BHI Slider: I understand your logic, but the market is seldom rational at times like these, and when ambulance-chasing, class action attorneys start piling on, lots of people dump just because of the lingering uncertainty. If your confidence is rock solid that this situation is contained (e.g., like mine is about McDermott's asbestos concerns), then it's probably a prudent long term play. Nevertheless, it may make an "investor" out of you. <g> Good luck on this one. I have no position, either long or short, and I'd honestly like to see you make a killing on your trade. Razor

To: SliderOnTheBlack who wrote (56562)	12/9/1999 12:12:00 PM
From: paul feldman	Read Replies (3) \| Respond to of 95453

Slider Take your teenys on the bounce and get out. Any accounting problem carries a negative impression on the street. You've seen it before. Its a long slow grind back to street respectability. Best of luck with this one.

To: SliderOnTheBlack who wrote (56562)	12/9/1999 2:45:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Slider, I have good news about EVER. It is no longer the priciest stock I follow on a Share price/Cubic Foot basis. HEC is now pricier at 7.27, while EVER (at $16) is at 6.43. For comparison, MEXP is .74, TMR is 1.18, CRK is .84, RRC is .62, VPI is 1.57

To: SliderOnTheBlack who wrote (56562)	12/9/1999 9:08:00 PM
From: Razorbak	Respond to of 95453

BHI - Here Come the Ambulance Chasers Faruqi & Faruqi, LLP Announces Filing of Class Action Lawsuit On Behalf of Shareholders of Baker Hughes Inc. Thursday December 9, 7:04 pm Eastern Time Company Press Release NEW YORK--(BUSINESS WIRE)--Dec. 9, 1999--The following announcement was issued by the law firm of Faruqi & Faruqi, LLP.: Notice is hereby given that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of all purchasers of Baker Hughes Inc, (NYSE: BHI - news) common stock between May 3, 1999 and December 9, 1999, inclusive (the ''Class Period''). The Complaint charges Baker Hughes and certain of its executive officers with violations of the federal securities laws, including Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. Among other things, plaintiff claims that defendants issued a series of materially false and misleading statements in press releases and SEC filings concerning Baker Hughes' revenues and earnings. As a result, the price of Baker Hughes' common stock was inflated throughout the Class Period. On December 9, 1999, Baker Hughes shocked the market by announcing that it has discovered ''accounting issues'' at its Integ oil-exploration unit that may require the Company to restate certain of its earlier financial results. Plaintiff seeks to recover damages on behalf of all purchasers of Baker Hughes common stock during the Class Period, excluding the defendants and their affiliates. Plaintiff is represented by the law firm of Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. If you purchased Baker Hughes common stock during the Class Period, you may, not later than 60 days from December 9, 1999, move the court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact: STACEY J. DANA, ESQ. ANTHONY VOZZOLO, ESQ. FARUQI & FARUQI, LLP 415 Madison Avenue New York, NY 10017 Telephone: (877) 247-4292 or (212) 986-1074 Fax: (212) 986-1792 e-mail (FaruqiLaw@aol.com) -------------------------------------------------------------------------------- Contact: Faruqi & Faruqi, LLP, New York Stacey J. Dana, Esq./Anthony Vozzolo, Esq., 877/247-4292 or 212/986-1074 Fax: 212/986-1792 e-mail (FaruqiLaw@aol.com) biz.yahoo.com

To: SliderOnTheBlack who wrote (56562)	12/9/1999 9:13:00 PM
From: Razorbak	Read Replies (4) \| Respond to of 95453

BHI - Ambulance Chasers (#2) Milberg Weiss Files Class Action Suit Against Baker Hughes Inc. and Its Officers and Directors Alleging Misrepresentations Thursday December 9, 7:29 pm Eastern Time Company Press Release SAN DIEGO--(BUSINESS WIRE)--Dec. 9, 1999--Milberg Weiss (http://www.milberg.com) today announced that a class action has been commenced in the United States District Court for the Southern District of Texas on behalf of those who purchased or otherwise acquired Baker Hughes Inc. (''Baker'') (NYSE:BHI - news) common stock during the period between May 3, 1999 and Dec. 8, 1999 (the ''Class Period''). The complaint charges Baker and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Baker services the oil and gas industry, providing reservoir-centered products, services, and systems to the worldwide oil and gas industry, provides products and services for oil and gas exploration, drilling, completion and production, and manufactures and markets a variety of roller cutter bits and fixed cutter diamond bits. The complaint alleges that during the Class Period, defendants reported favorable earnings and represented that there were no accounting issues at the company, which caused its stock to trade at artificially inflated levels. On 12/1/99, Baker announced it expected 4thQ 99 earnings to be short of expectations. Then on 12/8/99, Baker announced it might restate its past results due to accounting issues in its Inteq unit that would require charges of $40-$50 million be taken. On these disclosures, Baker's stock declined as much as 26% to as low as $15 on volume of 28 million shares. As a result of the defendants' false statements, Baker's stock price traded at as high as $36-1/4 during the Class Period. Plaintiff seeks to recover damages on behalf of all purchasers of Baker common stock during the Class Period (the ''Class''). The plaintiff is represented by several law firms, including Milberg Weiss Bershad Hynes & Lerach LLP, who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. Milberg Weiss has been actively engaged in commercial litigation, emphasizing securities and antitrust class actions, for more than 30 years. The firm has offices in New York, San Diego, San Francisco, Los Angeles and Boca Raton and is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm to major positions in complex multi-district or consolidated litigations. Milberg Weiss has taken a lead role in numerous important actions on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach or Darren Robbins of Milberg Weiss at 800/449-4900 or via e-mail at wsl@mwbhl.com. -------------------------------------------------------------------------------- Contact: Milberg Weiss Bershad Hynes & Lerach William Lerach, 800/449-4900 wsl@mwbhl.com biz.yahoo.com