Replies to post #235512 on Zeev's Turnips Patch-No Politics (ZEEV)

[AKvetch]

Since SCON is an old 'favorite', here's a fresh press release FYI ...

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Shareholder Class Action Filed Against Superconductor Technologies, Inc. By The Law Firm of Schiffrin & Barroway, LLP
Friday April 23, 7:30 pm ET

BALA CYNWYD, Pa., April 23 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Central District of California on behalf of all purchasers of the common stock of Superconductor Technologies, Inc. (Nasdaq: SCON - News; "Superconductor" or the "Company") from January 9, 2004 through March 1, 2004, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at [e-mail].

The complaint charges that Superconductor, M. Peter Thomas and Martin S. McDermut, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market between January 9, 2004 and March 1, 2004, thereby artificially inflating the price of Superconductor's common stock. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company could not meet its projected first quarter revenues of $10 million and $13 million due to changes in demand made by two of the Company's customers; (2) that the defendants knew of the decreased demand for its product well in advance; and (3) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and their earnings projections.

On March 1, 2004, Superconductor announced that it expected first quarter 2004 total net revenues to be $4 million to $5 million. News of this shocked the market. Shares of Superconductor fell $1.86 per share, or 45.4 percent to close at $2.23 per share.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com.

If you are a member of the class described above, you may, not later than June 15, 2004, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action.

CONTACT: Schiffrin & Barroway, LLP
Marc A. Topaz, Esq.
Stuart L. Berman, Esq.
Three Bala Plaza East, Suite 400, Bala Cynwyd, PA 19004
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at [e-mail]




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Source: Schiffrin & Barroway, LLP

[JimQuinceH]

Zeev, I have another signal for a "Change of Diection Point" for July 28th.

I now have signals for May 21st, June 24th, July 28th and October 13th. I want to give you plenty of notice <g>.

I think the May 21st "Change of Direction Point" will be some kind of low because I am seeing some other techincal evidence for a low in that timeframe. The week of May 17th through the 21st, whether the actual low occurs on May 20th or the 21st, I can't say yet, but we will find out in about four weeks.

Cheers, Jim