You ask if there was a settlement? Would the outcome of the class action matter? If there was a fat settlement, say many millions of dollars, would that be a good indication that something wrong was done? I would say yes, what would you say? When a stock goes from $36 to $2, when the company had to restate earnings more than once, when the company filed for bankruptcy, when shareholders were virtually wiped out yet insiders made millions from sale of stock before the bad news was made public, I don't think someone would have to be paranoid to see some red flags.
Maybe you have never been mislead by mmr p/rs, and maybe declining revenues are what you seek in an investment, maybe a "less than 1.5% subscriber attrition rate" together with 40% decline in revenues makes sense to you, but as recently as last week people were fed information implying some type of major announcement based on peace talks with WebMD and all they got is the complaint was not even served and the case was dismissed. Most would agree they were mislead. Stock ran up to 12 cents on anticipation of Walgreens settlement fueled by reports of marathon settlement negotiations, then dropped by 50% when no settlement reached and Walgreens denied all patent infringement claims. Most would agree they were mislead. Where are the smartphone and android mmr apps that were announced in 2012 and then again in 2013? Most would agree they were mislead.
Look thru all the deals announced in the entire history of this company, and try to find even 1 that delivered the revenues hyped in the p/r headlines. Take your pick, 2 million members, $1 million record revenues for quarter, $13 million Celgene deal, $5 million rapid revenue program, $30 million SCM deal, Chartis, Kodak, Visiinc, China, $1 billion patent valuation, etc., etc. Come back with just 1 where the headline number was delivered in entire history of the company.
If expecting to be able to believe what the company releases is being unrealistically zealous, I guess I am guilty, just like those Smartalk investors who believed what they were told by that company before financials had to be restated and they got wiped out.
If anyone believes this post contains anything false, tortious or libelous, please point it out. I will promptly retract it and apologize or else explain why I believe you are wrong.
