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Technology Stocks : AremisSoft Corporation (AREM) -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (435)	6/27/2001 8:52:24 AM
From: benchpress550	Read Replies (1) \| Respond to of 683

Gee look who shows up. How the back stabbing business going? One more thing when you log on to the 1000 buck joke chat site make sure you wave hello.

To: Kevin Podsiadlik who wrote (435)	6/29/2001 10:46:14 PM
From: cgw1948	Read Replies (1) \| Respond to of 683

Kevin, The issue is not whether Herb was "blowing smoke" when he said the proxy statement still must pass SEC muster, the issue is what kind of smoke he was blowing and whose arse he was blowing it up. For your information, the SEC's "review" of the proxy statement is procedural. The SEC has no substantive authority to reject the proxy statement or the recap plan even IF it believed there was no "legitimate" corporate purpose for the plan. The only entity with authority to do that is a Delaware court! And, the Delaware courts traditionally have given directors wide latitude in this realm under the "business judgment" rule. The only issue the SEC will have a substantive say in is the plan to deregister the existing stock after the new Class A shares are issued. The SEC may impose conditions on the deregistration plan "for the protection of investors." It will be interesting to see whether the SEC deems "naked" shorts to be "investors" and what sort of "protection" the agency believes they are "entitled" to as against the true owners of the securities involved. You need to do a little more "due diligence" Kevin. The shorts will have three choices in the coming weeks: l) cover at their discretion, 2) cover at their broker's discretion, or 3) cover and go long, which is the savvy play.