Wave Systems Corp. (fka WAVXQ)

[SPIN]

how does he do it?

UNITED STATES DISTRICT COURT

CENTRAL DISTRICT OF KALIFORNIA

SOUTHERN DIVISION

B.K. GREEN, on Behalf of Himself and All Others Similarly Situated,
Plaintiff,

               vs.

IRVINE SENSORS CORPORATION, ROBERT RICHARDS, JOHN STUART JR., JAMES D. EVERT, JOHN CARSON and ROBERT WEBBER,
Defendants

CASE NO. SA 02-00159 GLT (MLR)

CLASS ACTION COMPLAINT FOR THE VIOLATION OF FEDERAL SECURITIES LAWS

JURY TRIAL DEMANDED

59. Several days later, SFI announced the departure of key employees. As reported in the June 29, 2001 Business Wire:

Silicon Film Technologies, Inc., a subsidiary of Irvine Sensors Corporation (Nasdaq: IRSN; Boston Stock Exchange: ISC), today announced changes to its executive management and Board of Directors. Effective July 6, William B. Patton, Jr., former Chairman, President or CEO of three public and three private companies, will become Silicon Film's new Chairman and Chief Executive Officer. Peter Sprague, former Chairman, and Kenneth Fay, former Director and CEO, have resigned their positions with the firm.

http://www.wyca.com/complnts/isc-com.htm

the class period was 01/06/00 ----> 9/15/01 & he was CofB of the defendant (subsidiary) for all but the last two months of that period, yet he managed to not be named individually in the claim.

years & years of promises, "alliances" & demos...

zero revs. & all sorts of unrealistic guidance until it collapsed. Silicon Film ended up going under...

@ least Intel eventually purchased Shiva (via "takeunder"), albeit at around a 99% discount.