aditya, re: lawsuits, see the following post...
Message 16005662
The lower part of the above post summarizes most of what I was able to find out from one of the law firms who first co-filed the "class action" lawsuit against INSP. The only minor addition suggested by some on this board, is that "settlement" awards are often in shares of stock, instead of a monetary (cash) per share award.
It is my understanding that in about three weeks (on August 20) the case will go before a judge. If the case is allowed to go forward by the judge, most likely ALL of the lawsuits will be consolidated into a single case, with a "lead plaintiff" and "lead counsel" appointed by the judge.
Perhaps the following 3 excerpts from the above referenced post will answer your questions:
DO ELIGIBLE SHAREHOLDERS HAVE TO DO ANYTHING?
No, absolutely nothing. All shareholders who purchased (or "acquired") INSP stock during the "Class Period" (January 26, 2000 through January 30, 2001) are eligible to receive any potential awards from the lawsuit, and are not required to do anything at this time.
ANY ADVANTAGE TO BEING NAMED "LEAD PLAINTIFF"?
No, not really. There is no financial benefit to being named the "lead plaintiff" in a shareholders "class action" lawsuit anymore, as the U.S. Congress passed a law in recent years eliminating any single shareholder's rights and awards being treated differently than all the members of the shareholder "class."
WHY WOULD ANYONE WANT TO BE A "LEAD PLAINTIFF."?
Some "plaintiff" (shareholder and/or group of shareholders) must come forward in order for any law firm to file a "class action" lawsuit. Nowadays the only real advantage to being named the "lead plaintiff" is getting to be intimately involved with the attorneys in the detailed planning, development, and presenting of the entire case...from beginning to end. Other than that, it seems that it would really be a royal pain in the a**. "Defendant" depositions, testimony, sleepless nights, etc...etc... |
