BIGS!!! What do short-sellers do when they're caught with their pants down?
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>>>>>>Subject: DianaCorp (DNA)-Hype is over- Respect begun- Many shorts
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To: george johnson (XXX )
From: telephonics XXXXXXXX
Reply # ofXXXX
Los Angeles,May 6/PRNewswire?--On April 30,l997,a securities fraud class
action was commenced in the U.S. District Court for the Central District
of California entitled "Pamela Binder and Jeffrey Campbell v. Diana
Corporation,Sattel Communications Corporation,Sattel Communications
L.L.C.,Sattel Technologies Inc.,Streamlogic Corporation,Concentric
Network Corporation,Richard Y. Fisher,Donald Runge and James
Fiedler,"Civ.No.97-3186,on behalf of those investors who purchased
common stock of Diana Corporation during the period between November
1,1995 and March 7,1997("the Class Period")
The complaint charges Diana Corporation (OTC Bulletin Board:DNAK),a
number of affiliated entities,and a number of current or former officers
and directors with conspiring to manipulate the price of Diana
Corporation common stock through the device of a stream of false
statements,material misrepresentations and omissions regarding (i) the
state of technological advancement,capabilities,features,marketability
and usefulness of Sattel Communications principal products,a "digital
switching system" or "DSS",for use with voice,data,video and graphic
transmissions,and a switching system for internet access based on
DSS,called "Datanet";(ii) Sattel Communications' ability to succesfully
develop,produce and deliver the products as described to end users;and
(iii) Sattell Communications' sales,the credit worthiness of its
customers,certain financial transactions connected to its sales and
customers,and the financial resources of Sattel Communications and its
joint venture opartner. Diana was de-listed from the New York Stock
Exchange effective March 7,1997. During the class period, the price of
Diana stock rose from approximately $5 per share,to an intra-day high of
$120 ,and then fell below its original price level. The complaint
further alleges that,during the class period,individual defendents sold
an aggregate of approximately 1.15 million shares of Diana common stock
while in possession of material nonpublic information concerning the
true facts at prices up to $46 per share,for gross proceeds of
approximately $16.6 million.Plaintiffs seek to recover damages on behalf
of all investors who purchased Diana stock during the Class Period.
*(SHORTS!!!?)
Plaintiffs are represented by the law firm of Finkelstein,Thompson &
Loughran,Goodkin Labaton Rudoff & Sucharow LLP,and Krause & Kalfayan.
These firms have broad experience in representing defrauded investors in
class actions and have over 30 years od securities litigation experience
in federal and state courts throughout the United States.
If you are a member of the class described above,and if you meet certain
other legal requirements,you may,not later than 60 days from today,move
the court to serve as a lead plaintiff. If you wish to discuss this
action or have any questions concerning this notice or your rights or
interests,please contact Burton H. Finkelstein orDonaldJ. Enright with
Finkelstein,Thompson & Loughran,at 202-337-8000; Jonathan Plasse with
Goodkin Labaton Rudoff & Sucharao LLP at 212-907-0700; or James Krause
with Krause & Kalfayan,at 619-232-0331
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As a caveat to Tonto's post, OVIS was never served, Mork just put out a press release with those claims......Mork only sues when the value of a stock goes UP!!, Pugs |
