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Pastimes : Investment Chat Board Lawsuits
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To: rrufff who wrote (7361)2/18/2005 7:04:53 AM
From: Buckey  Read Replies (1) of 12465
 
Class actions are needed. But it seems over the top. They are almost unheard of in Canada and I know of a specific case where the insiders and BOD pruposely manipulated the share price. There are some lawsuits but they are between certain shareholders and a brokerage house as the broker has already admitted to helping the insiders artificially inflate the share price. KHI-TSE.

Anyway, I do find that there are simply way too many frivolous class actions against companies. I refer specfically to those aimed at Drug companies after their drug trials fail. Well that is part of the drug business not negilgence. Think of what it would be like if every mining exploration company was sued 12 times over every time they hit a dry hole. Heck they rarely ever hot anything. Our Law Schools would be burting at the seams.
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