[105427] in Cypherpunks
Cylink Sued for Stock Fraud
daemon@ATHENA.MIT.EDU (John Young)
Wed Nov 11 16:37:52 1998
Date: Wed, 11 Nov 1998 11:31:14 -0500
To: cypherpunks@toad.com
From: John Young <jya@pipeline.com>
Reply-To: John Young <jya@pipeline.com>
Business Wire reported yesterday that Cylink has been
sued in US District Court of New Jersey for securities
fraud through a class action. It alleges misrepresentation
and false financial statements.
http://jya.com/cylink-suit.htm
On November 5 Cylink announced revised revenues
for the first half of 1998. The day before William Crowell,
ex-NSA, was appointed president in a house sweep
of the executive team, apparently after discovery of book
cooking.
William Perry, ex-DoD, is still listed on the board of
directors, although the list seems to be out of date,
along with the annual report and letter to stockholders
on Cylink's Web site.
