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Technology Stocks : NHC COMMUNICATIONS (TSE:NHC) acquiring THE FIBER COMPANY -- Ignore unavailable to you. Want to Upgrade?


To: Lalit Jain who wrote (72)5/19/1999 8:11:00 AM
From: hugh thorne  Read Replies (2) | Respond to of 856
 
This suit is very real. I am one of the co-owners represented by cumberland.

A bit of history for you, the co-ownership arose from a tax shelter deal in which the co-owners acquired the rights to their wire-man product. this was done in the fall of 1994 at a time when software deals just started. if you look at some old stmt's you will see a $30 million or so receivable on the books. in 1997 they walked away from wireman and left us hanging.

With regards to the numbers, they seem a bit ridiculous, however there are lawyers involved. I believe they they received $250,000 from the proceeds that were supposed to have been in trust. I suspect that nhc will pay something but how much?