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

To: Ken Muller who wrote (8464)	12/18/1997 2:38:00 PM
From: Michael	Read Replies (1) \| Respond to of 14577

Ken, look through company news- this type of thing happens all the time.

To: Ken Muller who wrote (8464)	12/18/1997 3:59:00 PM
From: Cosmo Kramer	Read Replies (1) \| Respond to of 14577

Thursday December 18, 9:16 am Eastern Time Company Press Release Class Action Announcement LOS ANGELES--(BUSINESS WIRE)--Dec. 18, 1997--A class action has been commenced in the Superior Court of the State of California, County of Santa Clara on behalf of purchasers of S3 Inc. (Nasdaq:SIII - news; ''S3'') common stock during the period Oct. 16, 1996 to Nov. 3, 1997 (the ''Class Period''). The complaint charges S3 and various officers and directors with violations of certain California Corporations Code statutes. During the Class Period, the complaint alleges that S3 and its senior-most officers and directors issued materially false financial statements and a series of materially false and misleading statements about S3's operations, customers and future prospects. The complaint alleges the defendants concealed that S3 had improperly recognized sales to international distributors. The complaint further alleges that on Nov. 3, 1997, S3 announced that as the result of its improper accounting revenue recognition, it expected to restate its revenue downward for ''prior quarters'' by a total of between $40 and $70 million and that its resulting net income for those quarters would be reduced by 14 cents to 29 cents per share. The materially false and misleading public statements the defendants disseminated throughout the Class Period acted to inflate the market price of S3's stock, driving it to an all-time high of over $23 per share by October of 1996. The complaint alleges that defendants made and caused these materially false and misleading statements to be made in order to artificially inflate S3's stock price so that company insiders could sell off more than 400,000 of their shares at artificially inflated prices for gross proceeds in excess of $7.4 million. Plaintiffs seek to recover damages on behalf of all purchasers of S3 common stock during the Class Period. They are represented by several law firms, including Stull Stull & Brody, Weiss & Yourman and Morris and Morris, who have expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud. If you wish to discuss this action or have questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, David Katz at Weiss & Yourman by calling toll-free 1-888/593-4771 or by e-mail at wynyc@aol.com; or Michael D. Braun at Stull, Stull & Brody by calling toll-free 1-888/388-4605, or by e-mail at braunatssb@aol.com, or Patrick F. Morris at Morris and Morris by calling toll-free 1-800-296-0410 or by e-mail at morrisandmorris@compuserve.com. Contact: Weiss & Yourman, New York David Katz, Esq., 888-593-4771 or Stull, Stull & Brody, Los Angeles Michael Braun, Esq., 888-388-4605 or Morris and Morris, Wilmington, Del. Patrick F. Morris, Esq., 800-296-0410 More Quotes and News: S3 Inc (Nasdaq:SIII - news) Related News Categories: computers, semiconductors