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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: ScotMcI who wrote (19333)	9/4/1998 11:34:00 AM
From: dwight martin	Read Replies (2) \| Respond to of 25960

Well, to the extent that your ideal plaintiffs would have the company's interest in mind, they would be easily challenged as not adequately representing the interests of the (carefully defined) class of plaintiffs. I don't think you'll get a judge to name lead plaintiffs who don't want to sue, or who want to sue for peanuts. The system (and the judicial mindset) just dosen't work that way. The law needs to be changed. This is a loophole through which taxes are imposed, not avoided.

To: ScotMcI who wrote (19333)	9/7/1998 10:04:00 AM
From: Mason Barge	Respond to of 25960

<<In your opinion, would there be any point in trying to get enough shareholders together to seize the suit from Lerach>> This doesn't sound realistic to me. You'd have to file an identical suit and convince the court to certify it as the sole class action. It could certainly be done, both theoretically and in practice, and you'd have a pretty compelling case if you represented a much larger percentage of actual stockholders than whoever the nominal plaintiffs are in the action already filed. But you'd have to pay a good law firm cash in advance and it would be expensive. The people who do this for a living aren't going to be interested in taking a contingency case for any reason except to maximize recovery (or more realistically, to maximize attorneys' fees). Not to mention, you'd have to collect and coordinate sign-ups from shareholders. You could also collect a group to intervene in the suit already filed, and request that the action not be certified as a class action. This would be a lot less expensive, in terms of legal fees to do the work, but you would have 0% chance of getting any money back, i.e. you'd be out-of-pocket for all costs in the litigation. Or you could intervene in the present suit and ask to be appointed the class representative -- this is nearly identical to option #1, except you'd do it in the same court rather than a different one.