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  • rlw66 rlw66 Aug 26, 2002 12:57 PM Flag

    Claim Checks Received

    Dear Fellow ANLT Sufferers,

    My claim checks have arrived. The cash received is a bit more than 9% of my claim, and there are still shares to come, so I think my estimate of 10% is about right.
    I understand that the shares will be distributed by a transfer agent in the near future.

    I deeply regret my involvement in this sad story, particularly since I was a heavy supporter of the company on this message board, and unwilling to believe that the financial results were misreported, until much too late. My apologies to all.

    Now that the class action suit has come to a conclusion and payment has been issued, it is my intention to cease reading or posting to this message board as of the end of August.


    Robert L. Wells
    aka rlw66

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    • rlw66 >you are the only survivor from 1999.
      Long gone are ---
      TLWatson5906, mikebert, richa58, turbo47, Gry_crayon, chrisxwood, Kris_Vogel mystic379, timidog, mairez, BBGeld, BUYANLT, and drt781, plus I missed a bunch of bulldogs.

      • 1 Reply to foreigndignitary
      • Hello,

        I still check from time to time. I wasn't in the class so I got no money back :( After peaking in summer 1998 my taxable portfolio fell about 60% by Spring 2000 (ANLT wasn't the only stock with bad accounting I owned) and has been slowly rising since then due to savings. It is now at about 80% of its 1998 peak. Assuming no gain/loss in my current positions I should be back to the 1998 highs by the end of next year.

        Of course my 401K has been fully funded all this time and suffered no ANLT loss (I got out of stock funds in '99 and have gradually come back in, reaching 80% invested on July 19).

        Since we entered a secular bear market in 2000, capital gains from longer-term investments are going to be limited and it will probably take a decade to work off the ANLT losses, so I have tax-free capital gains going forward. I have held on to most of my ANLT shares and will sell them as I need losses. Of course dividends and interest (the bulk of my returns) will be taxed.

    • RLW,

      Yep, my claim check arrived too, and amounted to about $1.23 per share I purchased during that fateful period. Hardly a massive windfall ... but still about 5 times the value of those few ANLT shares I still own.

      I wouldn't beat up on yourself too hard for any circa-1999 cheerleading you did. We all had to depend on the official accounting statements, and when it turned out that much of that accounting was pure fabrication, that largely undermined the basis for any intelligent investing. (Can anyone here say "Enron"?).

      That, and the fact (Ah, yes, I remember this one very clearly) that 7 out of 7 analysts on this very YAHOO site rated ANLT a "strong buy" at the time. Analyst's recommendations should always be taken with a very large grain of salt, but their resounding vote of confidence wasn't very ambiguous. (Man, I'd love to know where those hot-shot analysts are now ...)

      Nice that this story is over.

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