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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?

Here's a link to the litigation web site:

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

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