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Posted On: 12/29/2022 10:22:35 AM
Post# of 148870
Thanks for finding that. That’s the standard type of PR they use when they are soliciting a shareholder to be lead plaintiff in a class action.
The lead plaintiff(s) get a bigger share of the eventual settlement if it goes to court, or they get whatever the attorneys give them if it’s a greenmail operation.
HOWEVER — the lead plaintiff can also be liable for legal fees and expenses, if it goes to court and the ambulance-chaser firm loses the suit, and the judge awards legal fees to the defendant company. I am aware of a case in which a lead plaintiff withdrew when the company said “see me in court” — and the ambulance-chaser firm sent out another PR soliciting a lead plaintiff.
The lead plaintiff(s) get a bigger share of the eventual settlement if it goes to court, or they get whatever the attorneys give them if it’s a greenmail operation.
HOWEVER — the lead plaintiff can also be liable for legal fees and expenses, if it goes to court and the ambulance-chaser firm loses the suit, and the judge awards legal fees to the defendant company. I am aware of a case in which a lead plaintiff withdrew when the company said “see me in court” — and the ambulance-chaser firm sent out another PR soliciting a lead plaintiff.
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