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Technology Stocks : PRI Automation (PRIA)

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To: Henry D who wrote (1092)	1/11/2001 8:37:33 AM
From: BMcV	Read Replies (1) of 1214

In fifteen years of investing (mostly in second and third tier companies that attract this kind of lawsuit), I have never seen a significant impact from a so-called shareholder class action. Class action lawyers are basically extortionists, filing cases of dubious merit in the hope of extracting a settlement. They know to settle for an amount just below what it would cost the company to litigate, considering the risks of litigation (eg a bad jury). Rarely does a management do the right thing and contest the suit in court. Until that happens on a regular basis, this type of extortion will remain a fact of doing business. This chart shows that nothing has happened to PRIA that is not simply an industry trend: finance.yahoo.com

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