I am not liable for millions Years ago I invested in one of America's oldest, greatest and most profitable media companies - The Tribune. Over many years I did very very well with it. I bailed in the nick of time and profited greatly.
It is a long sad hard story but basically those that bought out the Tribune lost their shirts and were mad as a hive of bees that got whacked. They sued everyone in site including us previous shareholders trying to clawback their losses from us retail investors.
Well after 12 years of brutal litagation against us little shareholders the US Supreme Court held we are not liable to pay the new suckers anything back.
There is a lesson here for those thinking of suing us Recaf retail stockholders to claw back thier losses: don't think of it as it is now a dead end in the US. Sue the honchos but not us as you will be wasting your time and money!