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Gold/Mining/Energy : CMYN -- Ignore unavailable to you. Want to Upgrade?

To: FuzzFace who wrote (512)	4/1/1998 3:47:00 AM
From: Peter Fein	Read Replies (1) \| Respond to of 811

I think Capello & Laffer are liable here, at least for incompetence, negligence (they knew this thing has happened before), if not outright violation of securities law. It wouldn't shock me if they got a cut from the preferreds in some form, or were shorting these stocks themselves. I'm going to check with the SEC for pending action. What happens is Casmyn defaults on delivering the common shares b/c the 300 million limit has been reached? Do they then pay cash back to the preferred holders or what? I looked at the original S-3, but my brain hurts & I can't make sense of it at the moment. --Peter