Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ploni who wrote (1696)	11/29/1997 8:01:00 PM
From: John Liu	Read Replies (1) \| Respond to of 2544

Just wondering since we are on the subject of Lawsuits would you(everyone) be in favor of impartial arbitration in cases of dispute between a company and shareholders. It would be a nightmare for the law firms but save both the company and the former shareholders alot of $$$, stress and time. Get it over with instead of dragging it out by either the company and/or the former shareholders. John

To: Ploni who wrote (1696)	11/29/1997 8:25:00 PM
From: Bruce A. Thompson	Respond to of 2544

Charles, It does seem odd. Doesn't it? As I remember......I get this letter in the mail one day, says if I'll sign the form and send it back then I'll be a member of the class that's taking on PNC mortgage for their grievious treatment of us borrowers that have been putting $$ into our escrow accounts. About two years later, I recieve another letter telling me I won the suit and that very soon I'll be getting MY SHARE of the proceeds. Hot damn honey pack your stuff, we're goin to the BAHAMAS!! About a year later I get a letter telling me that the settlement works out like this.......(remember, this is from memory)....Class representatives (2) recieve $44,000.00 each. Attorneys (a long list of names) recieve 42% of the total award in cash ($3.1 million) The remaining approximately 57% was to be equally distributed among the total members of the class. (Class members having an escrow account during the class period) Since I only had one mortgage on my house and only one escrow account, I would be recieving $.25....twenty-five cents. U.S. money??? Check??? Money Order??? No....... they credited the $.25 to my escrow account in FULL SETTLEMENT of all claims. Now, if I sound just a little biased in my opinion of class action attorneys it's probably because I still can"t understand why a judge who has children to raise would allow an attorney to make $3 million winning back my quarter. I wish you luck in your case though. YMMV. Bruce