To: brad greene who wrote (2137 ) 2/20/1998 7:15:00 PM From: Gary Green Read Replies (1) | Respond to of 3369
Some think getting cheated is a big joke. They probably didn't get cheated. If you buy stock based on statements that are true, and if the company's management is reasonable, I agree that if the stock tanks nonetheless, there should be no lawsuit. What if the statements the company issued to induce stock purchases are false or if the company's management was unreasonable in its failure to manage the affairs of the company properly, do those of you who are snickering about a lawsuit believe that the shareholders should simply walk? I was cheated in ECO2. At one point there was a possibility of a recovery. However, I made the mistake of trying to get some consensus from the other cheated shareholders about joining in a lawsuit, and then I took too much time trying to figure out the particulars of the fraud by the managers of ECO2. By the time I collected the pertinent facts, the managers were long gone, the company was a worthless shell and the prospects of getting a financial recovery were reduced to zero.As you can see, I do not want to repeat my mistakes. This time, I am not soliciting support from the other shareholders, and I have started my pre-litigation investigation earlier--before the last roll of toilet paper has been stolen from the company's bathroom. For those who were cheated as I am beginning to think I was in SALV, but who also might be pacifists, Jehovahs Witnesses, Republicans or persons who belong to other similar groups who think it is a sin to sue even when you were cheated in a stock transaction, I can only say, thanks ; your absence from any suit that may be filed could mean there would be more money for me if I do sue. Frankly, I am still gathering facts. I do not know where my investigation will lead me. From my experience with ECO2, I am inclined now to think that every shareholder who wants to sue might be better off with filing his/her own separate lawsuit rather than trying to put together a class action or derivative action. Nonetheless, there still is great value in sharing opinions, facts, research and the results of investigations. For those who are interested in sharing information that may yield a basis for launching lawsuits, please feel free to phone me or correspond with me off this thread at: Gary Green SIDKOFF, PINCUS & GREEN, P.C. Attorneys at Law 2700 ARAMARK Tower 1101 Market Street Philadelphia, Pa. 19107 phone (215) 574-0600 fax (215) 574-0310 Personal e-mail: gary-green@usa.net law firm e-mail: S.P.G@worldnet.att.net