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To: Due Diligence who wrote (246)7/10/1998 9:19:00 AM
From: Janice Shell  Respond to of 390
 
At least the company is liable for what they say or print.

It can be held to account for information it officially releases, but not for what's said in the course of phone calls, as that's not provable unless one party's legally taped the call.

Part of what we who ask questions are trying to do is to encourage companies to make more official statements, and many fewer unofficial ones. The result of the latter is a glut of "facts" reported by hypesters and normal longs who've "called the company" and may or may not be accurately reporting what they were told. Mistakes of this kind aren't necessarily deliberate--it's easy to remember something incorrectly if the conversation is long--but they can make for trouble.