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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Sultan who wrote (12306)	7/10/1998 10:33:00 AM
From: Christine Traut	Read Replies (1) \| Respond to of 13949

<Last thing I worry about is class action law suits against technology companies> I believe that the proposed legislation (introduced by the Republicans and Newt Gingrich) is to limit liability - not shareholder suits. Anyone who owns stocks should be concerned about this. If technology companies (or medical device manufacturers, or electric utilities) have No Idea of the potential liability around Y2K, they will not be able to do planning. I can easily see situations in which software vendors who don't have deep pockets, looking at the combination of fixing their code (not an easy thing - what if they can't find people - what if they don't have time) and facing potential 'business interruption' unlimited liability - will just fold up their tent. In other words, it is possible that we will see bankruptcies next year - long before 1/1/00. Law is based on precedent. There is no precedent for massive technology failure. So I think that national legislation to define what that liability will be is an excellent - and necessary - idea.