| To: R.S. Blum who wrote (1391) | 1/5/1999 2:56:00 PM | | From: CoffeePot | | | | |
The asset sell to KDS is only valued at $6.2 million.....if it ever takes place........for the year these particular assets accounted for 55% of revenues....and the company will no longer be able to operate under their current name after the sale.......looks like a desperate move to me. IMO |
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| To: PeteW who wrote (1400) | 1/14/1999 6:54:00 PM | | From: SHGLaw | | | |
It does indeed appear that rdus was named in the suit. The PR doesn't suggest any theory of liability for rdus, and the naming of otherwise non-liable parties who are major shareholders is done for tactical reasons (such as getting rdus to cooperate against splh in order to get out of the action).
Don't think that this will have any real impact on rdus, though psychological impact could occur nonetheless. Hopefully, this will not be adverse.
On the other hand, if the allegations are true, it looks pretty lousy for splh (which I also have). On the other hand, I took a really big hit when it tanked, and frankly, if splh management did what Milberg
Weiss says they did, then they deserve the suit and I'll offer myself as a named plaintiff.
SHG |
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| To: SHGLaw who wrote (1401) | 1/14/1999 7:18:00 PM | | From: Martin Olsen | | | |
SHG Re: SPLH
Splash was really cruising today, too. Do you think this will
have an effect on the stock price? I am under the general impression
that these suits take years to settle and often have little effect
on the stock...
-M |
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| To: Martin Olsen who wrote (1402) | 1/14/1999 7:33:00 PM | | From: SHGLaw | | | |
Absolutely true, Martin. They go on forever and usually have little long term impact on the subject company. But, and this is a pretty big but, they do have an unduly negative immediate result on the subject companies stock if it comes on people's radar.
Splh did pretty damn good today, and I for one was pretty surprise. I thought to myself, is something happening here all of a sudden to see a 20% rise. And now this. Will it mean anything? I just don't know if whoever has suddenly decided to buy will care about this. I kinda hope not, but suspect it can't help.
Take care.
SHG |
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| To: SHGLaw who wrote (1403) | 1/15/1999 9:25:00 AM | | From: R.S. Blum | | | |
Milberg Weiss has a pretty wide reputation of bringing trivial suits that are only brought to harrass and entice a settlement that rarely benefits the shareholders in the class.
Not that we don't need an interest willing to take on the insider pump and dump business world, the only problem is, the only one that usually benefit is the attorney's.
Anyway, I seriously doubt Rdus has any liability whatsoever, seeing that the jist of the complaint was the insinuation that business was continuing to grow at previous levels during the period of the second offering which turned out false. Rdus had nothing to do with describing or announcing concurrent Splash business during this period. Further more I think a good case would be that they sold most well after the Splash peak so they we're indeed in the dark too.
My .02,
-Scott |
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