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Non-Tech : Goldman Sachs Group Inc. NYSE:GS -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (103)	5/6/1999 5:47:00 PM
From: Baudwalker	Respond to of 411

Datek is saying that the underwriter reneged on their purported agreement to provide DATEK with 57,000 shares for distribution to their customers. Either Datek moved without authority in offering the shares (which were purchased by selected Datek participants at $53/share) or the underwriter breached its agreement to deliver the shares. In either case, someone should be liable for damages resulting from this fiasco. Certainly, most of the participants made trading judgements and decisions based upon the understanding that they would purchase and own their shares at $53 (typically 100 shares = $5,300), including selling other viable holdings to ensure necessary buying power (remember IPOs are non-marginable) and not participating in other trading opportunities during the post IPO interval. The party at fault should be required to reinstate the shares at the offering price of %53. At today's close of 67 15/16 this would imply a cost of 14 15/16 per share. If there is anyone out there who can provide an informed opinion on this matter, your contribution would be most welcome.