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General Observations: (I have no idea whether this suit has merit or
not).
Reality Check #1: When investors in an IPO see their investment rapidly
nosedive in value, they feel cheated. A law suit is a common consequence
of this type of event. Some of these suits have merit and some don't (I
guess that's always true). The legal system will sort it out. This is
not unique to Omega.
Reality Check #2: A law suit has been filed claiming misrepresentations
in the prospectus. When, in the history of the world, has the
underwriter, who prepared the prospectus, ever come forward and said
anything other than "the suit has no merit."
Reality Check #3: A law suit has two sides to it. The attorneys for each
side usually tell their clients they have a great case. They're wrong
half the time.
Allan
_________________________________________________________
UMCANE01 wrote:
>
> Subject: Re: Class Action Filed Against Omega Research
> Date: Wed, 28 Jan 98 22:49:50 +0000
> From: UMCANE01 <UMCANE01@xxxxxxx>
> Organization: AOL (http://www.aol.com)
> To: bfulks@xxxxxxxxxxxx
>
> After speaking with a source from Robertson-Stephens, their underwriters, this
> lawsuit is totally ridiculous. For instance, on the original prospectus it
> clearly states who the "true beneficiaries" will be. I imagine it would be the
> Cruz brothers. It's just so incredibly unfair that this stock is not getting a
> chance to grow.
<snip>
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