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Technology Stocks : PRI Automation (PRIA)
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To: Artslaw who wrote (1076)11/22/2000 12:12:55 AM
From: Alan Gallaspy  Read Replies (1) of 1214
 
Steven,

I am ashamed to admit that I signed on to one such "strike" suit, and received a whopping $0.54/share on a stock that I bought at $28.50 and ultimately went down to about $8/share. The CEO and largest shareholder, along with several officers, made millions by selling above $30, saying everything was wonderful and rosy the whole time. I do not know if they were untruthful or just incompetent.

So the short answer to your question is "Yes, these things to pay out" but be aware that you only get chump change while Milburg Weiss keeps the vast majority of any settlement.

Make no mistake about it, Lerach and pals make millions, fly on the Concorde, schmooz with the powerful and live a rarified existance at the expense of companies with volatile share prices and whose fortunes are often not entirely under their control. They most definitely do not have the interest of shareholders in mind, we are just insignificant pawns that they throw a few crumbs to while they run off with as much dough as they can. The only reason their legal activities have not been banned is that there is just enough book cooking and boardroom BS to just barely justify keeping these laws around. Oh yeah, and they give huge political contributions to trial lawyer PACs and money grubbing candidates.
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