Replies to post #24954 on World Surveillance Group Inc (fka WSGI)

[siriuslyricher]

The pps started to slide on Friday BEFORE the lawsuit was filed - someone had prior knowledge. Also, it is a bogus lawsuit and you can't say that announcing the loss of a deal would have as hard or CONTINUED depressive effect on the share price if a class-action lawsuit had not been filed.

There is a world of difference between having a contract not go through (because the other guy didn't come up with the money) and indicating that you are now have possibilities to work with different Russian partners, versus being a company which created a sham contract with a fictitous partner in order to dupe your shareholders.

[db_ill_invest]

Good points. However, I think an argument can be made that harm has come to the company, so forwarding everything to IR so they can send it around within GTE to help GTE with their response may be the best way to proceed. I believe this was also suggested by someone else on i-hub. The baseless lawsuit and ? the MF articles damage the reputation of GTE in a critical time as it negotiates it's first contracts IMO.