The SEC has no say in if investors would be rewarded any $ from lawsuits. Have any examples of shareholders who were EVER reimbursed in a pos penny stock such as MTVX???
Quick google search shows investors are SOL. Let's not forget IRonRidge is made up of lawyers. MTVX is made up of Troy, his MOM and let's see, oh ya Cory (if he's still there). Nope no lawyers in that group. Hmm how they gonna pay for council?? Maybe Troy will represent MTVX LMAO. Not much different than preaching to the choir is it??
When Shareholders Sue, Even When They Win, They Lose Results of Suits Filed A vast majority of shareholder lawsuits that are filed are ultimately settled prior to the closing of the transaction. In fact, Cornerstone's research suggests that almost 70 percent of deals valued over $100 million that were announced in 2010 and 2011 resulted in a settlement. However, most of these settlements did not result in any financial benefit to the shareholders bringing the suit. For example, Bloomberg has reported that 70 percent of such cases that were settled in the Delaware Chancery Court over the last two years have resulted in over $30 million in legal fees being awarded to plaintiffs’ attorneys, but no awards made to the plaintiffs in such cases.
Pennies for the shareholder, millions for the lawyers?” Class action cases have generated a fair amount of controversy in the press over the years. Critics claim that the typical class member recovers pennies, while the typical class lawyer recovers millions in fees. The implication is that you should not participate and try to recover your loss, because you won’t get much back anyway, and besides, you’ll just be making some lawyer rich.
From the SEC (While the Securities and Exchange Commission is a law enforcement agency, only the Department of Justice has authority to seek criminal sanctions, such as imprisonment.) The cases the Commission brings against individuals and companies are all civil or administrative matters – that is, the SEC sues alleged wrongdoers for violations of securities law in federal court or in front of a federal administrative law judge and seeks to obtain remedies, including civil money penalties, disgorgement of ill-gotten gains, injunctions prohibiting future violations of the law, and officer and director bars.
Below is a description of mechanisms injured investors may be able to use in recovering funds, including Receiverships, Fair Funds and Disgorgement Funds, Brokerage Account Customer Protections, Corporate Bankruptcy Proceedings, and Private Class Action Lawsuits. Please note that, in many cases, victims of fraud may recover only a fraction of what was stolen, or, in some cases, may recover nothing at all. Also, the mechanisms described below take some time to develop after the initial fraud is discovered. Make sure you check the SEC’s website for updates in the matter you are concerned about.
Receiverships In matters where the Commission files a civil court action against an entity or individual, the Commission may ask the judge to appoint a receiver. The purpose of appointing a receiver is to recover and protect funds and other assets the defendants have obtained in connection with the fraud and distribute those assets to injured investors if a determination of liability is made. You can find a list of Commission actions with receivers, as well as disbursement agents and claims administrators (whose functions are, generally speaking, to facilitate the claims and distribution process), here.
AI
