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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Thompson who wrote (1683)	11/27/1997 3:08:00 AM
From: William Minich	Read Replies (2) \| Respond to of 2544

<<Message from Bruce A. Thompson on Nov 26 1997 11:06AM EST Brooks, (I wonder why) That makes 5 suits total. As to why, Since every one of the lawsuits as advertising for a Lead Plaintiff, IMHO it looks like a bunch of attorneys are looking for a quick buck.>> I believe many of these lawsuits themselves cause more damage to the shareholders than the very reason for the suit. In the case of Cityscape, it has yet to be proven that they engaged in unethical accounting, however the stock dropped off much farther from the news of the suit than the price drop the suit itself challenges. Filing a Class Action suit does not necesarilly prove wrongdoing, anyone can file one regardless of actual improprieties. Sure some shareholders will get sucked into these complaints with the thought of a hot cash settlement, however you can assume the largest amount PER PERSON will be going to the attorneys themselves. I imagine the participating attorneys get a double payday since I would be willing to bet some of them go short on the stock before releasing the news to the press. I personally welcome new regulation regarding ALL lawsuits, but I believe legal reform will not happen since the majority of our politicians in Washington come from the legal field. Until that day, you can continue to watch the price you pay for goods and services - especially insurance soar....now if their was only an index fund we could buy into on that !