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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: Joe who wrote (8173)	12/5/1997 9:33:00 AM
From: stock talk	Read Replies (1) \| Respond to of 14577

You can add SGI to the long list of players to be clipped by the suit bug. <Class Action Suit Filed by Spector & Roseman, P.C. Against Silicon Graphics, Inc. and Its Officers and Directors Alleging Misrepresentations And Insider Trading SAN DIEGO, Dec. 3 /PRNewswire/ -- A class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Silicon Graphics, Inc. (NYSE: SGI - news; ''SGI'') common stock during the period from July 24, 1997 to October 6, 1997 (the ''Class Period''). The complaint alleges that defendants made false and misleading statements about SGI's business and financial results in order to artificially inflate the price of SGI stock to facilitate the exchange of a new SGI convertible security for $200 million of outstanding zero coupon debentures, while the defendants sold 286,584 shares of their SGI stock, pocketing $7.4 million in illegal insider-trading proceeds. After SGI successfully completed its exchange of convertible debt and after the insiders had sold more than $7.4 million in their own SGI stock, the company revealed that its strong fourth quarter fiscal 1997 results had been the result of pulling orders in from future quarters and that first quarter fiscal 1998 would suffer a huge revenue shortfall, as would later quarters. SGI also revealed that it's CEO and Chairman, Edward McCracken, had been fired and that the Company would be restructuring its organization. These revelations resulted in SGI's stock price dropping to less than $14 from its Class Period high of $30-5/16.> It almost becoming fashionable <ggggg> FWIW, I'm holding my shares of S3, strongly believing that if I wish to sell them, there would be a better opportunity than $6 a share in the foreseeable future.

To: Joe who wrote (8173)	12/5/1997 11:51:00 PM
From: James T.	Read Replies (1) \| Respond to of 14577

Ya, but they don't lie and cheat the investors like S3. S3 has fallen to a piece of crap of a company. 3COM is still a huge, and respectable company with a wide range of products for present and future. All of 3COM's products are in demand, but S3 are not. S3 flat out betrayed its investors, and didn't indicate its problems early on. At least we could have sold at $18. The funny thing is, that S3 is still trying to cheat its investors, even after all of this. In any case, one of my colleagues has communicated with a few lawyers, and they are all very confident that they will win their cases. It is pretty much a given. So I know that I will get some percentage of my money back.