PRIVATE LAWSUIT UPDATE: I have received many responses to my previous post of which I will attach a copy later in this post, and also clarify some points that were asked. I am encouraged with the response and am optimistic with proceeding in a private lawsuit vs OXFORD. ( (The dollar amounts of the people responded would have an effect) It is important for people wishing to join to contact me as soon as possible, since it is always good to get things rolling sooner to the events, when all recollections are fresh and when the fire is in the belly.
Here is a copy of my original post and some clarifications:
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I have contacted a lawyer who will take my case against Oxford Healthcare as A PRIVATE LAWSUIT. He will take the case on contingincy without any expense unless He recovers. I have used this firm in the past for stock litigations and we recovered millions. I have learned that if you fight you get your money back, provided you have the will to fight. and I have it.
The benefit in a private action rather than joining a class action is many fold and probably is the best route if you want to recover any significant amounts of money.
Anyone interested in discussing or joining
PLEASE E-MAIL me at my
E_MAIL address: stockdeals@aol.com
If you don't have e-mail than post on this board your thoughts.
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Here are some points to clarify matters:
First let me explain the benefits of going private. I would estimate that in the time frame of the class action there were losses collectively of over $4 billion. The total amount is not recoverable. Any settlement at say $100 mil. would give you 2% of your investment and then you minus lawyers fees for all the 10 class actions lawsuits. A $100,000 loss may fetch you $1,000 at the most, and in most cases $500 Suppose it is $200 mil. in settlement that your recovery is double the amount. You may also figure that not all of the $4 billion will join the suits since many people just ignore these things entirely so you may figure somewhat larger percentage. That is what I sadly learnt in the past that by joining a class action the return for a $10,000 loss can be $50. The lawyers make more money than the plaintiffs.
However, when you go the private route , then as the class action lawsuits get settled they have to deal with the small private lawsuit and get the nuisance out of the way. At that point if we have collectively my target of say $1 million of losses , and we have all discovery that the class action lawyers invested to collect, they will give us say $200,000 ( a conservative number, it can be higher depending on the makeup and amount of losses) and the lawyer takes 1/3 we are left with $130,000
or 13% of our losses. Of course it is no pleasant to hear this, however at least you got back a nice chunk of your loss. A $100,000 loss gets you back $13,000 far better than $500.
Furthermore, you have the benefit of both worlds, since you have the right to enter the class until after they settle, so should you ever see that the benefit is greater with the class you can always opt to leave the private lawsuit and enter the class. The reason why nobody does it, is that usualy a lawyer will request his fees up front. However, if you get a lawyer willing to do it on contigincy, then you stand a far better chance of seeing some real dollars returned.
As to questions of leaving the class since you alreadys signed up, you can always opt to leave, you may want to let them know about it after you decide (should you decide to join) the private lawsuit.
The lawsuit includes even people who bought after the first crash up until this week Dec 9th .
Thanks please feel free to contact me at
e-mail address: stockdeals@aol.com |
