Cylink Sued for Stock Fraud

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directors, although the list seems to be out of date,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.

>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.

I heard, from a former senior employee, a week or so ago that things were
not well there, but had no idea it was this bad (ir I would have shorted
the stock, oh well).

--Steve