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Technology Stocks : America On-Line: will it survive ...?
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To: Zoltan! who wrote (1387)2/2/1997 9:33:00 PM
From: LordDarley   of 13594
 
Duncan, you didn't read my post and just proceed with opinions that are not well thought out.

I indicated that these private suits can continue. But the prospect of geting multiple damages (for which you need an authorizing statute, such as a consumer protection statute) is virtually non-existent now that the ag's have been willing to settle their claims under these consumer protection statutes.

Also, the prospect of the plaintiffs getting their attorneys' fees paid for is not likely for the same reason. In the US, you need a statute to authorize attorney fees awards; otherwise each side pays its own. So the big bucks have just been taken from the attorneys in the private suits.

You also indicate that there will be federal suits. Are you just spouting? What federal law was broken? Arguably, a plaintiff could plead that AOL violated RICO, but I doubt this would stand up to a motion to dismiss.

In the event plaintiffs proceed, AOL will simply let the courts take their time. They won't come to court for years, and can be settled for short dollars. Believe me, there is no economics in this for the plaintiffs' lawyers, and the private plaintiffs certainly won't shell out their own dough for this nonsense.

So, if you want to short AOL, you had better do it for other reasons, not the lawsuits.

LordDarley
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