class action litigation/lawsuit on stocks that went bankrupt or drop alot...

[vincentnyc]

i traded hundred if not thousands of different tickers out there on the US equity market for the last few years. i have received letters from law firms about class action lawsuit on these stonks. personally, i made money on some of them or they either hit my stop loss.

so if any of ya fellas out there have any experience filling out the info requested by these law firms if you were able to get any money from these lawsuit? is it even worth my time?

 

[S2007S]

Hahahahah

Don't even bother with that garbage. The lawyers take 99.98% of all those proceeds.

You get NOTHING...well maybe enough for a small pizza.

 

[ph1l]

is it even worth my time?

Sometimes it's worth filling out the forms.
https://www.elitetrader.com/et/thre...th-it-for-scalpers.330163/page-2#post-4812489

For another ("the Merger was not entirely fair to the minority"), I gained 16.5% on the original purchase when the company was bought by another. And the settlement paid 32.4% of the original purchase.

 

[JSOP]

i traded hundred if not thousands of different tickers out there on the US equity market for the last few years. i have received letters from law firms about class action lawsuit on these stonks. personally, i made money on some of them or they either hit my stop loss.

so if any of ya fellas out there have any experience filling out the info requested by these law firms if you were able to get any money from these lawsuit? is it even worth my time?

You should read this John Grisham book "King of Torts". Gives you an idea of the world of class action lawsuits. The book is about class action lawsuits in torts but I imagine it would be the same in securities law. Wherever there is money, there would be sure to be lawyers.

 

[GaryBtrader]

I've filed these in the past and have gotten money back. I can't remember the amounts so obviously it wasn't noteworthy. If you have good records you can fill out the paperwork quickly and then mail it off for $10. If I can do it quickly I figure why not.

 

[smallfil]

Was even a plaintiff in one of the cases, where the CEO of the company manipulated the bogus financial statements. He settled for $10,000,000. Was to be given my share which was $150 but, I had to jump thru the hoops and submit detailed financial data which could have put me at huge risk of identity theft. Lost a couple of thousand in the process but, told the law firm to stuff it up their asses. Lawyers kept most of the $10,000,000 instead, of giving most of it to the victims. These lawyers make out like bandits in all these lawsuits which is why they keep filing them. For the victims, you are out of luck.

 

[Steven W]

I filed many forms and never gotten anything back. It is not worth it as it is way too easy to get denied, and the lawyers get all your info and the money from the settlement. I was the op for the other thread by the way

 

[smallfil]

I filed many forms and never gotten anything back. It is not worth it as it is way too easy to get denied, and the lawyers get all your info and the money from the settlement. I was the op for the other thread by the way

That too. Don't you notice that a lot of class action lawsuits ask you to join then, when the time comes for a settlement, not even one thin dime? These lawyers filing these numerous lawsuits are scum of the earth. Karma will hit everyone of them one day.