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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: quidditch who wrote (6218)	5/23/2000 9:15:00 AM
From: JDN	Respond to of 15615

Dear Steve: I am a retired CPA audit partner with a very large CPA firm. I did a lot of work in the SEC field. IMHO a lawsuit such as this is material and IF TYC has issued a red herring on its proposed IPO for the submarine cable business it will have to be recalled and amended in some sort. The problem with suits such as these TYC will very likely file a countersuit, a lot of time and money will be expended in the discovery process and in the end likely neither company will benefit much. If TYC is guilty of the charges they were very foolish again IMHO to not settle this amicably. I suspect though we will find out its all in that "grey" area and apparently neither side would compromise sufficiently to enact a settlement. JDN