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Author: jeffrubinstein Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 682  
Subject: Re: COSI, Owens Corning, and lawyers Date: 4/7/2003 8:29 AM
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Hello lucky1108,

So who pays the lawyers?

The cases are usually on a 'no win - no fee' basis, which is cheap for the plaintiff - if they lose. If the lawyers win, they can take as much as 60% of the settlement for fees. The rest goes to the aggrieved stockholders.

And typically, do such suits end up giving any money back to the stockholders?

see above, but don't expect more than the price of a dozen "Big Macs".

Personally, unless you were REALLY conned, I'd bin the lot. In which case, the folks to go see are the SEC.

Regards

Jeff

Disclaimer - own shares in WSTL (Westell Comms) a telecomm equipment manufacturer. They were sued for securities fraud, and appear to have won. But they won't recover their own legal costs in the defence.
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