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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Larry Brubaker who wrote (10909)	4/30/1999 10:12:00 AM
From: Zeev Hed	Respond to of 27311

Larry, this is one of Mr. Murphy's turns. I am surprised that management did not anticipate this court decision, you want your slate clean of such suits when you go for a shelf registration. Any underwriter will have a fiduciary responsibility to at least have a good solid evaluation of the merits of the suit. I have not followed this one so I have no idea what management knew or did not know prior to their sales of shares, but if you are right and they sold close to half a million shares two months before they abandoned that project, some juries (and it is a jury trial, I believe) may have difficulties accepting the point of view that management had no inkling of the impending disaster. Just my opinion with very limited knowledge of what transpired then. Zeev