No, Risk, the PPS has EVERYTHING to do with the lawsuit. People allegedly 'lost' money because of the failure of Internafta. As I recall, GTE was ready to rock 'n roll and Internafta dropped the ball with their dubious letters of credit. Huff called their hand and they folded.
The fact is, when the stock price exceeds that of the rise from the Internafta announcement, there is no harm, no foul.
The Plaintiffs in this case made a free conscious choice to buy GTE and a free conscious choice to sell. GTE longs chose to hold. If the plaintiffs are still holding GTEM and the prices rises to its' highest level, where are the damages? Those who sold did so of their own volition. They can't claim 'foul' because GTE put out a legitimate PR in a timely fashion which announced a very lucerative deal between GTE and Internafta. Nobody put a gun to their heads and made them buy GTE. They did it on their own out of pure greed. When Internafta defaulted, GTE stock took a dive and many of them sold out at a loss. There are no guarantees in the marketplace. Fortunes are made and lost every day in the stock market.
The plaintiffs are claiming that they were 'chumped' by GTE's overly optimistic PR's and lost money because of it. I say that they will soon find out that their very own lawyers are setting them up to be even bigger 'chumps."
No man should be considered totally useless....because he can always serve as a bad example.
AI
