Kalkhoven Cleared in Securities Trial

[LJH1225]

Former JDS Uniphase execs not liable says jury
Tue Nov 27, 2007 6:41pm EST More Business & Investing News... Featured

OAKLAND, Calif., Nov 27 (Reuters) - Four former executives of JDS Uniphase Corp (JDSU.O: Quote, Profile, Research) are not liable for securities fraud and insider trading for selling more than $350 million in company stock before its price collapsed in 2001, a federal jury said on Tuesday.

The jury delivered its verdict in U.S. District Court in Oakland, California, where it heard nearly three weeks of testimony from witnesses including the former executives.

The defendants were former chief executives Kevin Kalkhoven and Jozef Straus, former chief financial officer Anthony Muller, chief operating officer Charles Abbe, and the company itself.

The suit alleged the company, a former darling of the dot-com boom, and its executives cost shareholders $18 billion when they painted a rosy financial picture of a company whose stock was about to plunge. (Reporting by Amanda Beck)

[jonovision_man]

Cool.

jono

[TravelGal]

Thanks for the news.

Whatever snippets I read, here and on other CCWS websites, pointed in that direction. I never read anything that persuaded me of the prosecution's case.

We're 2 for 2 in court. Now if only FIA would fall in line.

[RusH]

That`s going to disappoint some people in the Midwest and Alaska.

4 more years!!!:D

[KLang]

That`s going to disappoint some people in the Midwest and Alaska.

4 more years!!!:D

No schlitz, those morons at TF have a lot invested emotionally in this trial. :rofl:

[pchall]

Looks like Kalkhoven can spend Christmas with his penguin buddies after all. :p

[ferrarigod]

Looks like Kalkhoven can spend Christmas with his penguin buddies after all. :p

i personally was worried. i heard he was going to be the first person ever to be placed in a federal pen for ripping off investors. who knew civil courts could send people to pound me in the ass prisons?

[Spicoli]

there are some true morons out there.

evidently many states need to beef up their public school's civics classes. :laugh:

:cold night in alaska:


:cry:

[emjaya]

Looks like Kalkhoven can spend Christmas with his penguin buddies after all. :p

He may give it a miss this year....:gomer:

Link (http://edition.cnn.com/2007/WORLD/americas/11/23/antarctica.ship/index.html)

:D

[jonovision_man]

He may give it a miss this year....:gomer:

Link (http://edition.cnn.com/2007/WORLD/americas/11/23/antarctica.ship/index.html)

:D

LOL! :)

That picture seems oddly appropriate...

http://i.l.cnn.net/cnn/2007/WORLD/americas/11/23/antarctica.ship/art.sinking.ap.jpg

She's sinking... when will she go down for good?

jono

[Andrew Longman]

Wait.

I haven't been to TF yet.

Let me just imagine what excuse they will have for the miscarriage of justicethis will be.

Bribed the jury?

Lousy state employee/political appointee lawyers?

They hid the dirt?

Doesn't matter, they are still scum?

Doesn't matter, CC still must die?

Doesn't matter, CC still is losing bazillions and will close shop this year?

Hmmmm.

[Don Quixote]

The case was too complicated for a jury to understand.

This is no different than the OJ case, they both walked.

Another example of big corporate thugs rolling the little folk.

CC will dissolve because KK spent so much in his defense.

This will be appealed, justice will be served in the appellate court.

There are more cases waiting in the wings, this is just the start.

and so on ....:tony:

[Ozarkian]

No schlitz, those morons at TF have a lot invested emotionally in this trial. :rofl:

Indeed. If only they had had a lot invested intellectually in the trial ...

[Andrew Longman]

I'd also note Dave that a "not guilty" finding is not necessary always finding about guilt ... can you say OJ, I know you can ..... :gomer

I personally thought there was at least a good indication there could have been improper conduct here - by the same token I guess I never felt it was highly likely KK would be found liable - which is pretty rare

I'm satisfied KK's had his day in court - and been found not liable - that said it does not change my personal opinion of him or his business practices


Crow now....it says the plaintiffs can appeal the ruling.

Got some, missed some. "Jury ruled they were lousy businessmen" and "I never thought they would lose anyway".Should have thought of those too. :gomer:

[KLang]

I predict that thread will be locked up tight by noon today. Cleanup won't stand for anyone disagreeing with him. :tony:

[Spicoli]

What's amazing is that they keep believing the spew coming from 16th & Jonestown.:shakehead

[JLMannin]

I had a cubicle mate that day traded during the tech boom. He bet heavily on JDS Uniphase and lost 75% of his money when it went bust.

[eiregosod]

I had a cubicle mate that day traded during the tech boom. He bet heavily on JDS Uniphase and lost 75% of his money when it went bust.

the tech boom, where great ideas went to die. <sigh> now if I can get my microsoft mouse to work....


JDSU did make good optical amplifiers ;) , they formed a good half of my PhD thesis :D

[Methanolandbrats]

I had a cubicle mate that day traded during the tech boom. He bet heavily on JDS Uniphase and lost 75% of his money when it went bust.
Thus the importance of understanding the concept of a "stop loss". :shakehead

[cameraman]

I had a cubicle mate that day traded during the tech boom. He bet heavily on JDS Uniphase and lost 75% of his money when it went bust. I sure did not day trade but I invested heavily in the market and bought JDSU in 1996 at a couple dollars a share. It split so many times I don't remember the actual numbers. I sold it in 2001 for a couple hundred times what I paid for it. It kept going up for a month or two after I sold it but I got out because anyone with any common sense knew that the company was not worth more than the GDP of Canada. People who were buying at the peak were greedy & stupid.

[G.]

I sure did not day trade but I invested heavily in the market and bought JDSU in 1996 at a couple dollars a share. It split so many times I don't remember the actual numbers. I sold it in 2001 for a couple hundred times what I paid for it. It kept going up for a month or two after I sold it but I got out because anyone with any common sense knew that the company was not worth more than the GDP of Canada. People who were buying at the peak were greedy & stupid.You're smart! You should run AOWR.

Or get sued. Not sure which.

;)

[eiregosod]

I sure did not day trade but I invested heavily in the market and bought JDSU in 1996 at a couple dollars a share. It split so many times I don't remember the actual numbers. I sold it in 2001 for a couple hundred times what I paid for it. It kept going up for a month or two after I sold it but I got out because anyone with any common sense knew that the company was not worth more than the GDP of Canada. People who were buying at the peak were greedy & stupid.

those who buy at the top are like those conneticut fund managers, they were playins with other people's money.

[oddlycalm]

I sold it in 2001 for a couple hundred times what I paid for it. It kept going up for a month or two after I sold it but I got out because anyone with any common sense knew that the company was not worth more than the GDP of Canada. People who were buying at the peak were greedy & stupid. Once the retro rockets fired, it turned, took aim for the center of the earth and fired the main rocket motors it would have made a great short play as well.

BTW, great thread everyone :thumbup:

oc

[cameraman]

Once the retro rockets fired, it turned, took aim for the center of the earth and fired the main rocket motors it would have made a great short play as well.

Remember that and consider that Google has a market cap of 213 billion today:rolleyes:

[dando]

Remember that and consider that Google has a market cap of 213 billion today:rolleyes:

Yes, but there is no end to GOOG's ambitions. First Android and now clean power:

http://www.news.com/Google-to-enter-clean-energy-business/2100-13844_3-6220341.html

:saywhat:

-Kevin

[Insomniac]

Thus the importance of understanding the concept of a "stop loss". :shakehead

Or putting all your eggs in one basket.

[Insomniac]

Remember that and consider that Google has a market cap of 213 billion today:rolleyes:

Google's P/E ratio has remained around 50 for most of this year, which is actually it's lowest since the stock began trading. The stock will probably tumble if they ever miss estimates because investors are finicky that way, but they keep making more and more money. Still growing. They could easily be at $1000/sh by this time next year. The high stock price also keeps day traders away.

[Racing Truth]

Got some, missed some. "Jury ruled they were lousy businessmen" and "I never thought they would lose anyway".Should have thought of those too. :gomer:

You know, indycool is who he is, a hack. Laughable, but since you know that, not surprising really.

The "Crew," OTOH, being a moderator speaks volumes, and not in a way that reflects well.

All IMHO.

[Andrew Longman]

The "Crew," OTOH, being a moderator speaks volumes, and not in a way that reflects well.

Especially since the usual suspects have pretty much gone silent or compliant yet CuC is defiantly standing in his corner taking his flogging.

[oddlycalm]

Remember that and consider that Google has a market cap of 213 billion today:rolleyes: Google's earnings and growth are both probably too high for a downhill thrill ride. That said, there are always companies out there poised to collapse at the slightest hint of breeze. All it takes is finding one.

oc

[Sean Malone]

There's a certain HMO in a sunny state that fits that bill. Anymore, I can not say. *zipping lips*

[Andrew Longman]

CuC throws in the towel. Thread closed


tag it and bag it .... TOD 2:51am

[eiregosod]

CuC throws in the towel. Thread closed

closed after we got the official word from FTG that KK is a bad businessman ;)


the legal eggspurts at TF have called it wrong for the bankruptcy hearing and now the civil trial. :tony:

[coolhand]

I sure did not day trade but I invested heavily in the market and bought JDSU in 1996 at a couple dollars a share. It split so many times I don't remember the actual numbers. I sold it in 2001 for a couple hundred times what I paid for it. It kept going up for a month or two after I sold it but I got out because anyone with any common sense knew that the company was not worth more than the GDP of Canada. People who were buying at the peak were greedy & stupid.

1996? Did you own JDS or Uniphase at that time?

[cameraman]

Uniphase. I invested ~$200.:rolleyes: