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Vader

08/13/04 12:00 PM

#50702 RE: 24601 #50701

Thank you 24601....

I still believe the PP guys weren't dumb, deaf or blind...


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player1234

08/13/04 2:24 PM

#50754 RE: 24601 #50701

Your reading of Regulation FD is incorrect. "leaks" were not the primary cause of the regulation. (ask companies such as Schering Plough) You may contact any securities lawyer to validate the true use of the law.

You state What I do know is that Reg FD does not preclude making a pitch to them..

They can "pitch" whatever they like as long as it doesn't include non-public information

You state one exemption that MAY apply here, that is, an exemption related to communications with persons who expressly agree to maintain the information in confidence.

However, securities lawyers will add the following caveat:
If an issuer intends to rely on a person’s agreement to maintain information in confidence, it should discuss documenting the agreement in writing with counsel even though the SEC indicates that an express oral agreement will suffice.

I still hold to my opinion that the PP investors did not know about the anticipated quarterly results and that the company did not give them information beyond what everyone else had.

Good luck to you (and all of us).