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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: chaz who wrote (52575)	8/28/2002 2:11:58 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 54805

re: prgne I know the company, there is buying but its not quite as straightforward as it seems. First of all, prior to the accounting scandal there was a fair amt of buying by the existing mgmt team in the 6s and 7s. This was around february (there were also a bunch of sales) quicken.com Then, after the scandal broke in may, and prgn became prgne, the former team was ousted. John Moores is now Chairman and he has a new CEO, Gary Greenfield. Gardner (former CEO) and Gless (former CFO) "resigned". Prgne stock fell to the 1's after all the resignations and allegations from misc acct firms came to light. During this time (stock in the 1's)- a Private Investor, Mark Nelson (former CEO of Ovid Technologies) decided to buy up shares on the open mkt. As soon as he reached the threashold, he was an insider. So, starting in July his purchases are showing up as "insider buys". moneycentral.msn.com He owns about 13% of prgne now moneycentral.msn.com I wouldn't consider Mark Nelson an actual insider, so I think the street.com and Barron's insider buy alerts are a little misleading. An interesting point is that about a month ago Nelson seemed dissatisfied with prgne management and staged a personal conference call and a formal request for a board seat. You can pull these things up on bloomberg. By that time he had lost about 10mm on his original investment, because yet more bad news came out about delisting etc. About a week went by, and after that not even a peep out of him (he doesn't have his board seat even now). I think he met with Moores and was satisfied in some way. L