Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tony Grier who wrote (1454)	3/28/1998 12:52:00 PM
From: Starowl	Respond to of 5944

Tony: I think most of us now glaze over when thinking of the lawsuits. Several large firms that specialize in helping "defrauded shareholders" have announced class action suits. I don't know if I would compare these firms with ambulance chasers, but I truly wonder about their motives. And I don't know how the suits originate, but I strongly suspect that, in many/some instances, the firms develop a case and then offer themselves to disgruntled investors, who are looking for scapegoats for their misfortunes/bad investment decisions. In Adaptec's case, the allegations are that management knowingly, intentionally and fraudulently projected continued strong growth and earnings merely to enrich themselves. In other words, allegedly management saw way back in April 1997 that the markets for Adaptec's products were crumbling, and--crooks that they are--conspired to drive Adaptec's stock price higher and higher and higher so they could sell their stock and make lots and lots and lots of MONEY. "Who cares about the company," they laughed amongst themselves at meetings, "or the investors?" I think that is pretty farfetched. But maybe I'm just a fool. :-] Thanks Starowl