Replies to post #126701 on Wave Systems Corp. (fka WAVXQ)

[Snackman]

Tim, how can someone take Wave to court if they came out with a material announcement at anytime?


Tim listen to what you are saying. If Wave got a 10 million dollar contract on Monday and they announced it on Tuesday, in this mixed up market as you say, and the stock jumped up or down, that could cause a lawsuit? For announcing something material by law?

[RootOfTrust]

bigtim re: releasing material news:

I am not sure anyone here knows the rule on how soon after a material event occurs, it needs to be disclosed. That is the issue here.

One example I can think of was the SRA placement (.80) announced on Thurs. May 4. The deal was struck on Tues. May 2 because it was based on the closing bid that session. Then it was announced two days later. To me that implies there is some grace period involved.

My own opinion is that if Wave can legally wait on PRs, they should save them until the there appears to be more danger of the SP falling below the Nasdaq minimums.