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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Ahmad Ascha who wrote (1332)	3/24/1998 4:15:00 PM
From: MetalTrader	Read Replies (1) \| Respond to of 5944

While I congratulate you on your reading of the filed complaints, if you were familiar with the judicial process you would be comfortable with a coin toss in determining the outcome with greater efficiency and comparable predictability. Your statement that where there is smoke there is fire certainly conflicts with my own intimate experience with class action lawsuits. You would not believe how much smoke a room full of smoldering attorneys gives off without ever producing so much as an ember. (my apologies to the attorneys in the group ...but imagine life without sweeping generalizations <s>) As far as my reading of the complaints...I should hope any good prosecuting attorney could at least paint a picture of godless moneygrubbing thieving bastards. They get paid more if they win don't they? But the picture painted conflicts with my reading of management attitude as communicated in their past sec filings. The fact that they made side arrangements to buy back unsold inventory is certainly not unheard of in numerous industries..although their original accounting of it leaves much to be desired. Such a side agreement I believe should be a contingent liability. No one at a financial level would let it go through as simply a sale. No competent accountant would sign off on that misclassification in an audit. It strikes me strange that management would so blatantly do so knowing that it would have to recast the books at the audit. Too obvious to be machiavellian and makes me suspect that it was something done at a level where financial sophistication was lacking. Anyone know if any sales managers got fired recently? mt

To: Ahmad Ascha who wrote (1332)	3/25/1998 3:22:00 PM
From: slob	Read Replies (1) \| Respond to of 5944

Ahmad, Investing is about understanding future trends, the law deals solely in the past, hence the two have very little in common. I want to be a successful investor, not an historian, so Show me what can happen Starting from where I am today. There is zero value in digging up past mistakes and whipping those responsible. As an investor I consider myself responsible when the price of a stock, that I own, falls. My responsibility was to understand ahead of time that ADPT's management was painting a rosy picture that they could not deliver on. Now I don't own any ADPT because I could not see value in the past, however, now that they have fallen from grace I will take a second look at them and determine, in my own mind, if the current price makes them attractive. I have done this and placed a GTC buy at $15.25. If my interests were self serving than I'd beat up on management and hope that this might drive down the price. I believe that fundamentals will drive the price down so I'm happy to sit on the sidelines until ADPT hits my buy target. Slob