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Microcap & Penny Stocks : Amazon Natural (AZNT)
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To: Jeffrey S. Mitchell who wrote (24203)10/26/1999 1:50:00 AM
From: Mark_H  Read Replies (1) of 26163
 
Did you get to this part:

It was properly dismissed for another reason as well.
The plaintiffs could not prove injury with the degree of
certainty, low that it is, necessary to obtain an award of
damages in a securities case. Blue Chip Stamps v. Manor
Drug Stores, 421 U.S. 723 (1975); Pelletier v. Stuart-James
Co., 863 F.2d 1550, 1557-58 (11th Cir. 1989). (They do not
seek any other form of relief.) They bought stock that
was selling for many times its actual value, hoping against
hope that there were enough foolish investors to push the
price up despite the imminence of its certain plunge. It
is entirely speculative that but for Scattered's short sell-
ing, the plaintiffs would have sold at a profit or at a
reduced loss before the price plunged to its value in
the reorganization.

In this case, if not for the short sells the poor "foolish investors" would have been left holding the bag at a higher price.
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