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Pastimes : Investment Chat Board Lawsuits
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To: Jeffrey S. Mitchell who wrote (7359)2/18/2005 4:29:39 AM
From: rrufff  Read Replies (1) of 12465
 
Totally agree with you. Has there been any comments, publicly or privately, from the class action securities factories?

System should be changed to encourage derivative actions against corporate management and touts, such that disgorgement out of their personal assets goes to shareholders. However, the class action system relies so much on boilerplate and cookie cutter approach that it maximizes hourly rates for the attorneys. That's why you see the settlements of pennies a share and millions in legal fees. Derivative actions on behalf of the corporation would involve hard work as opposed to boilerplate, but could lead to real funds from the manipulators that would inure to the corporation.
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