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Author: kalongo Add to my Favorite Fools Ignore this person (you won't see their posts anymore)
Number: of 36496
Subject: Personal Update on Milberg-Weiss: Date: 4/21/00 1:00 PM
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I was surprised this morning to receive a call from the Milberg-Weiss firm in my lab. I was so surprised that I failed to get any contact information, so the call may have been a hoax. However, it sounded legitimate.

The lawyer I spoke with was clearly young, and was less interested in what I had to say than in talking himself.

He reiterated the position of Milberg-Weiss, and agreed that their suit intends to represent not long-term investors, but short-term daytraders who lost money due to the abrupt decline.

HE STATED THAT HIS FIRM HAS RECEIVED MORE EMAIL/LETTERS FROM INVESTORS IN A 48 HOUR PERIOD THAN IT EVER HAS ON ANY OTHER CASE.

MESSAGE: KEEP APPLYING THIS PRESSURE.

At this point, I suggested, literally, that they sue the President of the United States, the Prime Minister of Britain, or perhaps the President's press secretary Joe Lockhart, since it has been widely accepted that the precipitous dip in Celera and several other biotechs was a product of their statements, and misinterpretations of their statement.

"Well, we can't do that," he replied.

I informed him that disclosure of talks between the government and Celera has been in the public domain for over two years, and that I hardly saw the causality between the drop in the stock price and these talks.

My impression is that he attempted to be empathetic to investors like myself. He even admitted that lawsuits like his own hurt the stocks of the companies that they sue, a rather candid admission. I was very adamant and firm that I disagreed with his law firm's position in this case.



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