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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: DreamWeaver who wrote (8752)	10/19/1998 8:43:00 PM
From: Bernard Levy	Read Replies (2) \| Respond to of 12468

Hi Dreamweaver: Regarding the PCMS class action lawsuit, the only grounds that the lawyers might have is that P-Com missed its earnings estimate for the July quarter by a large amount, without issuing an earnings warning. There was a lot of insider selling during the 2 months preceding this bad quarter. However, earnings warnings are not legally required, and the insider sales were properly reported. So, the legal case looks underwhelming. The lawyers are probably after the insurance money for such lawsuits-- the stockholders will probably get a few pennies a share. A few months ago, I was informed that I was part of a class action lawsuit against my mortgage lender. It looks like this bank kept a little bit too much money in tax escrow accounts. Anyway, the lawyers got $10M in legal fees, and I got a $100 rebate on my next mortgage application with this lender, like if $100 mattered when the key variable is the offered rate. Seems to me there are way too many lawyers around, and it is high time we should start thinning their herds-- hear that Lizzard? Best regards, Bernard Levy