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Technology Stocks : Ascend Communications (ASND)

ASND 196.46

-5.1%

1:21 PM EST

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To: eDollar.com who wrote (25860)	12/4/1997 8:43:00 PM
From: SteveC	of 61433

Off topic -- It always interesting to see that the lawyers get bad mouthed by investors when the persons who defraud the investors are the corporate insiders, big accounting firms and major underwriters who earn millions promoting securities in companies that are barely making or haven't even made a profit. It is these lawyers through the vehicle of a class action that provide any type of insurance system at all to us investors who get fleeced by high flying companies that go bust. Sure the lawyers take a percentage of final award, sometimes up to 25 percent. But why would anyone take on these cases if you didn't make a good recovery in some actions to cover your losses in the cases where the defendants prevailed in or resulted in a minimal recovery? Specifically, where did you learn that the informix case settled? The lawsuit was only filed 6 months ago or so and still on going. These suits can take years -- not because the plaintiffs lawyers are crooked but because the defendant companies, accountants and underwriters fight them as hard as they can even when the fraud is obvious -- $200 million restatements as in the case of informix don't occur without substantial fraud by the insiders. I don't know have any knowledge of a suit against Gupta Corp. but look at securities.stanford.edu This site has updates on many securities actions. If there has been a settlement with Gupta Corp. and you didn't receive notice, it shouldn't be hard for you to find out who represents the plaintiffs (search the stanford site or call the company if it's still in business), contact plaintiffs' counsel, and request a copy of the claim form for you to obtain a recovery. You'll never get back the full value of your loss -- and not because of the lawyer fees -- but for the obvious reason that the defendants never settle for the full loss.

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