Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : VVUS: VIVUS INC. (NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: VLAD who wrote (21634)	5/5/1999 1:23:00 PM
From: VLAD	Read Replies (1) \| Respond to of 23519

Regarding the class action settlement: Yes folks this indeed was Factor X and it was best not mentioned until it became official. The Vlad heard long ago that the sharks wanted to settle for $12M and Vivus would have to pay $2M which they were glad to do to remove this nuissance suit but the insurance company refused to pay $10M because they knew that the plaintiffs didn't have much of a case. VLAD thinks that the xCFO should personally cough up Vivus' share of the settlement since IMHO he represented the only problem on the management/ethics issue at hand but of course that will never happen as our Harvard Business School(silver spoon in the mouth) boy laughs his a#s off all the way to the bank. IMHO the settlement amount was very reasonable considering that litigation could have cost Vivus and their insurance carrier more than $6M even if they prevailed in a long drawn out litigation. As far as I am concerned the settlement cost us a dilution of 120k shares and since Vivus paid an average of $15.65/share in the 2M share buy back then the "real" costs to us was $1,878,000. The good news is that the settlement has NO effect on our cash position and now we can move on as a potential buy out candidate(screw A/Z if they can't get their act together by now). More good news on the way. Too bad the settlement news came out in the midsts of a major market sell off. The trend is still our friend. VLAD