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Technology Stocks : Sequans Stock Discussion
SQNS 5.970-15.7%Nov 4 3:59 PM EST
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To: MUDD1 who wrote (67)9/28/2020 12:03:02 PM
From: GaryMi1 Recommendation

Recommended By
frmrVZguy

   of 222
 
Lawyers get 1/3 plus no more than 90,000 expenses.
Plaintiffs get no more than $5,000 plus compensation for loss.

Given the settlement was $2.75 million it leaves $1.74 million.

So if all 19.365 million shares are claimed that would be $0.09 per share. But in reality I think the number of shares claimed will be substantially less.
A) My broker (Fidelity) did not inform me of the settlement so others probably were not notified.
B) It's a speculative stock better suited to retail investors. For example, people that bought small amounts (1,000 shares or less) probably are not going to think it is worthwhile making a claim even if they are aware of it.

I will guess that the actual number of shares claiming damages is less than 50%, which would make it worth $0.18 per share. Hopefully we will have that information later today.

FYI From what I have read any income from the lawsuit will come to claimants as a 1099-MISC. I think that it is a little unfair that we cannot use actual stock losses to offset the supposed gain from the lawsuit. But whoever accused the IRS of being fair.
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