From: John Young <jya@pipeline.com>
Date: Thu, 12 Nov 1998 01:29:06 +0800
To: cypherpunks@toad.com
Subject: Cylink Sued for Stock Fraud
Message-ID: <199811111641.LAA06325@camel14.mindspring.com>
MIME-Version: 1.0
Content-Type: text/plain



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directors, although the list seems to be out of date,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