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Technology Stocks : LEGATO SYSTEMS LGTO
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To: A. Wayne who wrote (836)2/12/2000 10:57:00 PM
From: Zoro  Read Replies (2) of 1138
 
Re multiple class action lawsuits: While I agree that the class action suits will distract management to some extent, the fact that multiple suits have been filed will not increase the distraction, since they will all eventually be consolidated into 1 certified case, if indeed a court believes there's any case at all. 5 or 6 firms have become immensely profitable by filing and settling these cases. They are generally settled (with proceeds from insurance) in order to minimize the distraction of management time rather than because there was really any fraud- but "disproving it" is very time consuming and expensive. The street has certainly seen enough of these cases to downplay the potential economic effect on the company.
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