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Pastimes : Investment Chat Board Lawsuits
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To: mmmary who wrote (3011)5/22/2002 1:30:32 PM
From: mmmary  Read Replies (1) of 12465
 
Comment on $100M settlement

This is what really gets me about this deal. You know that all the burned investors, short sellers, concerned people like you and me are the ones who did most of the research and investigation into the case. They made the complaints with all the evidence. Yes, the government did get the subpoena and was able to go in and get the rest of the records. I bet we the public handed the case to the government on a platter, open and shut, a year ago. The government FINALLY goes after them when it's finally made public knowledge via the press and they want to look like they're doing their job. The government gets the company to cop to the easy plea, not admitting or denying guilt in the matter, and they make them hand over $100M. Who gets the $100M? The government. Who was burned by the government not properly overseeing these matters? The private investor. Who probably did 99% of the research and investigation into the matter? The investors. Where did the $100M come from? The investors. This does not seem right to me. It's almost as if the government is rewarded for not doing their job properly. Their job is to keep people from being ripped off, not taking part of the booty after the gig is up. Now the government tells the little investor he has to do his own lawsuit to get his own money back after the investor is the one who gave the government his case and his money. This is so unfair for the investor. No, I wasn't burned in this case myself. I just hate seeing people ripped off.
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