How to Play the Big Savings and Loan Lawsuit Message Board

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Non-Tech : How to Play the Big Savings and Loan Lawsuit

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To: Ira Vine who wrote (24)	7/13/1996 5:04:00 PM
From: Robespierre	of 63

Damages for loss of possible profit would only be awarded if the profit was reasonably forseeable. True, there are hundreds of thrifts lining up for damages, but CalFed and Glendale have the some of the largest claims. And even if damages for loss of possible profit aren't awarded, CALGZ @ $12 looks cheap to me especially in a weak stock market like this - CALGZ's ultimate payout is unaffected by whether or not the bull market is over (unlike the stock prices of CAL or GLN themselves). Furthermore, #1 Glendale has explicitly stated that they want nothing to do with a settlement and #2 the judge in charge of the Glendale case has put the case on the "fast track". Interestingly the judge in the Glendale case is the same judge whose ruling (to award damages for loss of possible profits) the court of appeal struck down in the Wells Fargo case. It will be up to this judge to decide if that precedent is applicable to this case. And then, naturally, the appeals process will begin all over again.

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