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Pastimes : Investment Chat Board Lawsuits
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To: Handshake™ who wrote (2553)3/6/2002 7:21:37 PM
From: mmmary  Read Replies (2) of 12465
 
Quinn and his lawsuits against TK et al

So far this Quinn guy has started a lot of lawsuits but he hasn't won any. I don't really know if he can win these lawsuits. I think the truly guilty parties in these transactions are the public companies themselves who agree to the toxic funding. If they didn't know what would happen to the share price, then they were negligent. If they did know what would happen (as I believe), then they are responsible.

I also don't know if they can prove who manipulated and shorted what as most of the transactions were done offshore where they do not recognize US securities regulations. Since then they have even changed holding companies and countries so maybe the offshore entity has no records even.

If Quinn were to ever win, I'm sure all the holding companies will just fold. They made one LLC for each transaction so why not. More TK research here mary.cc

Also note, I don't think anyone has won one of these toxic funding cases yet but a lot of companies have settled, in favor of the lender; case in point, MBPT. They settled with TK, publicly admitted guilt and stated that TK did no wrong, then they turned over the rest of the shares.

It will be interesting to see how these cases turn out.
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