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To: Larry Schnitt who wrote (683)2/9/1998 3:11:00 PM
From: AngelM  Read Replies (1) | Respond to of 709
 
I feel a class action can only have some chances of success, if it is quick. If chapter 11 comes, it is hopeless. (I would think)

Good lawyers usually can find places to get some money back, but where is the $$?

angelm

PS not a lawyer, just speculations



To: Larry Schnitt who wrote (683)2/10/1998 2:16:00 PM
From: gpphantom  Read Replies (1) | Respond to of 709
 
Larry, I share your feelings. Regarding a class action suit, the directors and officers do share liability with the company. They are held personally accountable for their actions on behalf of the corporation and their personal assets are at risk. By failing to provide financial reporting and disclosure the Board has failed to meet the standards of expected conduct that is set forth in federal and state statutes, thus exposing themselves to liability.