edit3: D&O don't know anything about the other class in which you were a member so i can't really comment on the litigation track.
IMO there may be incentives for Wave to avoid detailed discovery & that is the basis for my conjecture that the claims will be resolved by a relatively quick & quiet settlement. Insurance will presumably cover the tab (assuming Wave & its principles carry such policies).
a judicial disposition other than consent decree (to an agreed settlement) seems unlikely IMO. presumably Wave will move for transfer out of Jersey & it'll be contested (motions, etc) & that'll take a few months (at least).
could get to class certification/hearing stage somewhere around June-August, depending on the heft of the Mass Judge's docket.
edit: Thig -- that deadline is one week away & i too would argue that it is 6% due & payable on 02/19/04 (but i haven't seen the agreement) & an additional 2% every month thereafter that the share registration has not been declared effective. yeah, 24% interest seems sorta loan-sharkish to me, but some here are totally comfortable w/it b/c the SEC investigation is supposedly "BS!" & of course, IDF is just around the corner... so all is well (or so they say).
edit2: Mig -- you know you are not "way off" on that assessment -- any lawyer bringing such a nonsensical claim against the class action counsel would likely be sanctioned pursuant to Rule 11 -- JMO.
edit3: keep dreaming Texastree. & btw, the stock could be at $100 & it wouldn't change the claims against Wave in the least. They relate specifically to the alleged events of the class period & anything which transpires thereafter is irrelevant -- IMO.
