I explained the class action a few times but since
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Posted On: 11/16/2020 12:37:08 PM
I explained the class action a few times but since I found the breakout in a spreadsheet I had I thought I would share.
Most tech companies have ambulances chasers. Other companies do, but maybe higher with tech companies as their stocks tend to be more volatile.
Pick a public tech company small are large and google the companies name and class action. You'll be surprised how many there are and repeats.
One example I picked at random...
"Between August 10, 2018 and September 6, 2018, nine purported stockholder class actions were filed against Tesla and Elon Musk in connection with Elon Musk's August 7, 2018 Twitter post that he was considering taking Tesla private."
Maybe some have merit, but many don't. Most know one thing is for certain...
Guess who gets paid?
These can drag out for years. At some point, if the insurance company can settle it for a fraction, they do.
Lawyers are happy because they get paid.
Here's the proposed settlement and breakout
$640,000 Settlement
$200,000 Administrative Cost (upto)
$160,000 Lead Counsel
$25,000 Litigation Expenses (upto)
$2,000 To pay lead Plaintiffs X & Y for reimbursement of their time and expenses (“Fee and Expenses Award”) up to $1,000 each;. Names are in the sec filing, but I won't post them here.
$253,000 Remaining for claims
If I remember, the two points in the lawsuit were
1. Did Oracle partner? Did they invest anything in it?
I know they did because it was right in the SEC filing when it was published and I know how this works. Did Oracle invest millions. Hell no and no one said they did.
2. Did Oracle Netsuite salesforce of 2000 have the opportunity to sell it?
They have the opportunity to sell all apps on the app store and Oracle benefits with a percentage cut.
Hey, does Oracle do as good of job as Salesforce? Do they do demo jams, customer spotlights, etc. I think not but maybe that is an Oracle problem.
One more thing. Stocks take a hit sometimes when CA's are announced. Sometimes a big hit. Once people know they are settled?
Last post on this topic. Buy the filings if you are curious and want more information.
Most tech companies have ambulances chasers. Other companies do, but maybe higher with tech companies as their stocks tend to be more volatile.
Pick a public tech company small are large and google the companies name and class action. You'll be surprised how many there are and repeats.
One example I picked at random...
"Between August 10, 2018 and September 6, 2018, nine purported stockholder class actions were filed against Tesla and Elon Musk in connection with Elon Musk's August 7, 2018 Twitter post that he was considering taking Tesla private."
Maybe some have merit, but many don't. Most know one thing is for certain...
Guess who gets paid?
These can drag out for years. At some point, if the insurance company can settle it for a fraction, they do.
Lawyers are happy because they get paid.
Here's the proposed settlement and breakout
$640,000 Settlement
$200,000 Administrative Cost (upto)
$160,000 Lead Counsel
$25,000 Litigation Expenses (upto)
$2,000 To pay lead Plaintiffs X & Y for reimbursement of their time and expenses (“Fee and Expenses Award”) up to $1,000 each;. Names are in the sec filing, but I won't post them here.
$253,000 Remaining for claims
If I remember, the two points in the lawsuit were
1. Did Oracle partner? Did they invest anything in it?
I know they did because it was right in the SEC filing when it was published and I know how this works. Did Oracle invest millions. Hell no and no one said they did.
2. Did Oracle Netsuite salesforce of 2000 have the opportunity to sell it?
They have the opportunity to sell all apps on the app store and Oracle benefits with a percentage cut.
Hey, does Oracle do as good of job as Salesforce? Do they do demo jams, customer spotlights, etc. I think not but maybe that is an Oracle problem.
One more thing. Stocks take a hit sometimes when CA's are announced. Sometimes a big hit. Once people know they are settled?
Last post on this topic. Buy the filings if you are curious and want more information.
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