Post by
rabblrouzr on Feb 16, 2014 10:34am
Class Action vs Group Action?
I wonder if we should be pursuing a Group Action for those that have put their names/holdings on the List and have contributed.... as was the case I was in a few years back? rather than the Class Action structure? Just asking ...and you might want to discuss that with Counsel as well... they'll have a better feel on how best to proceed. In my case in the Group, we were required to ante up for the retainer based on the size of our Individual Holding in relation to the Group total size,... and of course the Settlement was distributed in the same ratio. Kind of sticks in the craw that the wrong-doers get to benefit from our Action.... but Counsel will best be consulted on best course to take!
Comment by
Fullblast on Feb 16, 2014 10:48am
Rabblrouzr, our strategy is to maximize share value for all shareholders, wherever they are. It is the fairest ans less complicated thing to do.
Comment by
shev72 on Feb 16, 2014 1:47pm
Note however that the Group Action has the advantage of denying Benefits to large Insider Holdings including Walter of course. His shareholding dilutes Benefits to the rest.
Comment by
khaledb on Feb 16, 2014 2:18pm
I thought the class action lawsuit will represent only its members. Are we going to fight for Walter too ? With this strategy if we reach a settlement we will recover only 2 or 3 %. Really i don't understand
Comment by
Fullblast on Feb 16, 2014 2:25pm
Khaledb, believe me we are aiming for way way more that 2-3%, more like 100 % plus a premium ! As shev72 mentioned, Walter may be excluded as an insider. This is a very good point and we will clarify it with counsel ASAP.
Comment by
Fullblast on Feb 16, 2014 5:26pm
Khaledb, I can't get into details right now, but as you know, the strategy is to establish a competitive bidding process which will maximise share value.