Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: igonzi One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3069  
Subject: IPO Litigation - Class Action Date: 1/16/2006 1:21 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I recently received a class action settlement info in the mail regarding a IPOs that were hot during the "internet bubble" e.g., (the now bankrupt) Commerce One, Ariba, VericalNet, etc. You get the pattern. Of course, the reason I got this is because I had invested in these during the bubble, and with a lot of other investors, got burned real bad.

The ridiculous part of the settlement is the ridiculously low settlement that I as an individual investor would get out of the deal after attorney fees and expenses. Here's a partial list:

Sycamore Networks: $0.0210/sh
Webmethods: $0.1270/sh
Vertical Net: $0.0150/sh
Juniper Networks: $0.0066/sh
Commerce One: $0.0066/sh
Ariba: $0.0080/sh

So, for a 100 shares of each company, the settlement would give me $18.42!!

What do you think are our options?

Opt out of the settlement?
Work directly with each company?
Collaborate with other individual investors for options?
Others?

Here's a link to the litigation web site: http://www.iposecuritieslitigation.com

There are 6 law firms named in the "Plaintiffs' Executive Committee":

Milberg Weiss Bershad & Schulman, Bernstein Liebhard & Lifshitz, Schiffrin & Barroway, Sirota & Sirota, Stull Stull & Brody, Wolf Haldenstein Adler Freeman & Hertz.

Any help, directions, or potential resources would be great!


I've cross-posted this on the Education, Jobs & Professions / Lawyers/Attorneys http://boards.fool.com/Message.asp?mid=23563498


gonzi
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next

Announcements

Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Apple

Apple and Ninety Years Ago
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement