Have you guys seen that there are three separate law firms proposing class actions against Jade? Look at:http://finance.yahoo.com/q?s=JADEand view the headlines. Looks like now is not a good time to buy. Wish I hadn't...
Unfortunately, I have a few shares too.Have you contacted anyone about joining in the lawsuit?
Hi matstao,I've e-mailed and asked three of the companies for information. I'm pretty new to investing though so haven't experienced anything like this before. As far as I can tell if I join a class action I might stand to recover some of my money if the action is successful - and in that event the law firm take a fee off the top. Otherwise I'm not liable for anything...I think!?
Come on people give me a break!!!!!!! Class action suit ............... a bunch of greedy lawyers that want to gather a bunch of investors crying in their beer because they were way to lazy to do their homework on this company. JADE has been and will continue to be a rather risky and speculative investment.
Just to clarify, I have not joined any of the class actions and am not sure whether to do so or not. As I said I'm new to investing in privately held stocks and my reason for posting was to see whether anyone could offer any advice (looking back I didn't make that clear). I did my research and was aware that Jade would be a speculative investment, however it's difficult to judge whether it was worth doing that homework if I didn't have access to all the facts.I'm quite prepared to see a stock I've invested in take a hit - even dropping more than 50% - as long as I think there's a good chance of growth in the longer term. I am concerned though at the number of law firms getting involved here. Is this common? If anyone has more knowledge of these situations than me I'd love to hear from you.Hoping this all just blows over....
Since the first notice about a class action against JADE appeared there really hasn't been any more noise about it. (that I have heard about) There was a class action craze back when the dot-com companies started to full apart but I don't remember anything really coming out of that either. I have followed JADE for almost 3 years now, having to restate quarterly reports is not a "new" issue with this company. They also have been under a threat of delistment for most of this year. I still own some shares of JADE and will hold on and ride this out. There still are some positives with the stock. There was a store opening in Macchu and at last year's Oscar's there was some nice JADE products placed in the goodie bags handed out to the attendees.Sync
Sync,Thanks for the information; it's interesting to know that they're sometimes slow with their reports. I have to say my first - and remaining - instinct was to hold as I'm sure this isn't the first negative rumour I'll hear about a company I've invested in. There seem to be about eight different class actions in the pipeline now re: Jade, and it looks like a bit of a feeding frenzy but maybe people are just jumping onto the bandwagon.
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