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It’s basically an advertisement, fishing for a bogus investigation, to ponder a frivolous lawsuit. We all know nothing will come of it but these ads are remarkably effective at convincing weak hands to sell.

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Exactly. They're called "stock-drop lawsuits" and they happen almost every time a stock drops. As a trader, I get tons of emails and mail solicitations from stocks I've been in. They're the financial world's version of ambulance chasers. Nothing to worry about, but they did give me a nice buying opportunity in the high .70s.