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Strategies & Market Trends : Banned.......Replies to the A@P thread. -- Ignore unavailable to you. Want to Upgrade?

To: olivier asser who wrote (3516)	4/17/2005 3:50:16 PM
From: rrufff	Read Replies (2) \| Respond to of 5425

I've recently posted a couple of times on the XYBR board and also elsewhere about the class action sharks and their cookie cutter approach, designed to maximize hourly rate/actual work done. Settlement is usually at that point where that fraction is the highest. Look at the pleadings. Other than the few factual data paragraphs, it's all boilerplate. The rush to the courthouse is more important than the injury. There are very few who will do shareholder derivative actions, avoid the cookie cutter approach and go after the ceo's and BOD that rape shareholders so often today. Going behind indemnity clauses and reaching D&O liability policies, as well as personal assets, disgorgement and cancellation of shares, etc., takes real work and you won't find much of that in the class action boilerplate. The allegations that some work with hedge funds and professional shorts could get be an interesting area of investigation in this whole naked shorting debate. I have been very disappointed with the Plaintiff's bar, so put it mildly. So far, just about all I have seen are lawyers who file class actions in their own interest and not in the interest of the victims, and while they give lip service to your ability to come to them for help, in practice what they do in anything regarding financial fraud is first read WSJ and NYT for new frauds coming to light and then go in search of plaintiff's for the case they already have prepared. In fact, one very prominent plaintiff's firm I won't name stated to me about their cases: