SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: ravenseye who wrote (2137)4/13/2007 1:50:12 PM
From: ravenseye  Read Replies (1) of 5034
 
uh oh doesn't look good ....
"The settlement includes no money for class members but does arrange for payment of well over $300 million in legal fees and expenses."

Theodore A. Bechtold Esq. to seek removal of Milberg Weiss from the IPO Securities Litigation
Written by Theodore A. Bechtold
Brooklyn, New York / Apr 11, 2007
prbuzz.com
...From its inception the IPO Securities Litigation appears to have been directed by Milberg Weiss solely to obtain the legal fees. The still pending issuer settlement presented to the Court by Milberg Weiss provides a clear picture of the priorities of counsel. The settlement includes no money for class members but does arrange for payment of well over $300 million in legal fees and expenses. Milberg Weiss even agreed that the class would be required to pay all legal fees incurred by the issuer defendants in the case. An indicted racketeering enterprise responsible for presenting such a self interested and absurd settlement proposal to a Federal Court on behalf of his clients does not provide fair and adequate representation for the Class members in the IPO Securities Litigation.

Under the direction of Milberg Weiss the IPO Securities Litigation Executive Committee failed to charge hundreds of underwriters listed in the prospectuses for the 309 charged IPO’s. In the 6 “focus cases” decertified by the Second Circuit the Committee failed to charge 70% of the underwriters listed in the prospectus. Venture capital investors, hedge funds and other clearly culpable parties were completely ignored as defendants even if they were listed in the prospectus as principle shareholders or otherwise identified by counsel as participants in the manipulation....
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News