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Non-Tech : Cityscape Financial (CTYS)

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To: Rational who wrote (853)	10/12/1997 10:02:00 AM
From: LAWREAL	of 2544

From what I understand, the fact that the class action suit is "headed" by a 300 share shareholder does not weaken the merits of a suit. The law firm, if it smells blood and feels that can either win or obtain a settlement, require a (any) shareholder to be the lead plaintiff. That is why they announce a class action and ask shareholders to contact them---they need a shareholder to represent the "class". Whether the shareholder owns 300 or 3,000,000 shares is immaterial. The lawyers hope to gain a settlement and obtain a large legal fee. In some instances, the public company has insurance against these types of claims and it is the insurance company that pressures to settle.

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