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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (83153)	8/20/2000 3:41:05 PM
From: BSGrinder	Read Replies (1) \| Respond to of 132070

Michael, What do you think of the class action suits against Biomatrix? I read the statement of allegations and it sure sounds like a classic channel-stuffing scam - with the exception that Balazs and Denlinger (the married couple who are CEO and Exec VP, respectively) seem to have gotten caught. The suit contends that Synvisc is not any more effective than a placebo and that BMX has been concealing the fact that they are booking sales to Wyeth, their partner, that are not going through to the market (Wyeth has over 4 months inventory of Synvisc). BXM has finally admitted as much by announcing a "charge" to reflect a reduction of future sales. The suit also claims that the merger with GZTR was only made to allow Balazs and Denlinger to cash in 28% of their shares at an inflated value ($37). It sounds awfully fishy - a lot like our friends in Boise, in fact. Since I did buy a little BXM and GZTR, I'd appreciate your read on this. Thanks, /Kit