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    Dot.com = Dot.Failures

    "Rediff.com has been slapped with a lawsuit in the US by investors who bought its American Depository Receipts. The class action case says the portal misled investors by hiding facts and giving false information in the June 2000 IPO prospectus. The law firms of Lovell & Stewart and Sirota & Sirota filed a class action lawsuit on April 10 on behalf of all persons and entities who purchased Rediff ADRs. "

    Has anyone else heard about this? Can anyone shed some more light on what has happened and what it means in plain English?

    #2
    The suit claims that Rediff misled them(the investors, I mean) by publishing in its IPO prospectus that one of their chairman (some guy who goes by the surname "Lee") is an Stanford graduate though it now turns out that he actually dropped out from Stanford.

    Also, Rediff is accused of NOT plainly stating that most of its advertisement contracts for its portal were set to expire by the end of 2000.

    And now , could you tell me, also in plain English, why did you write "Dot.com = Dot.Failures " for the topic of this post.



    [This message has been edited by chilli (edited April 23, 2001).]

    Comment


      #3
      Oh the number of dot coms going bust is evident by the popular press, but for even more info look at some industry publications.

      As my friends call it, the years our careers were dot com'ed, and then dot bombed.

      careerwise dot com experience is a good one in my view because in majority of the cases people get t experience the type of authority and respnsibility that they would otherwise not see for some time to come.

      and even if it failed, a little bit of humble pie is never bad. I know it did me good.
      The greatest trick the devil ever pulled was convincing the world he did not exist. And like that... he is gone.

      Comment


        #4
        chilli,
        Thanks for the explanation.

        I believe that Mr. Fraudia's post explains the answer to your question about the title and why I chose it.

        Comment


          #5
          Pir Saheb, I could not agree with you more. I had an opportunity to work with a dot-com here in the west coast .I loved the work experience there..everything was so informal..and it really looked like all the employees had a stake in the company...we all slogged so hard...the founders of the company were always accessible and infact brought toys and games into the office to keep the environment lively...I wasn't looking forward to weekends like the way I do now.......
          Now comes the sad part. The company shut its doors recently. Though I never quite believed that their business-model could ever generate enough revenues based as it was on providing free web-based payroll services, I was finding work to be so much of fun....
          But I guess as they say...all good things must come to an end........

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