diddy:
Yes, all remember the filing, including the SEC, which has extremely long arms and great banking skills. Filing to sell and selling actual shares is a very traceable event. I hope the picture is becoming clear to you.
Maybe this will help"
22. The plaintiffs are committed to the task of vigorously prosecuting
this case. See Appendix of Plaintiffs' Affidavits (filed May 9, 2003) (in which
each plaintiff describes the considerable time and effort that he or she spent
working on this case and communicating with their counsel). Accord, Counsel Aff.
Para.Para.4, 5, 15,18, 19, 36, 57, 72 (confirming the effort that the plaintiffs
devoted). The Class plaintiffs and Class members have an identical interest in
establishing the liability of defendants. See Adams v. Reagan, 791 S.W.2d at
292.
23. The plaintiffs are represented by experienced, able counsel
thoroughly familiar with complex litigation. Counsel Aff. Exs. 13-14 (r sum s).
Counsel have served as lead or co-lead counsel in a number of complex actions in
the past. Id. The conduct and work product of plaintiffs' counsel in this Court
further satisfy the Court that they are experienced and able. In their
appearances before this Court and in the work- product submitted in support of
this settlement, both Mr. Cantor and Mr. Kamber have demonstrated their
experience, ability, and qualifications to adequately represent the Class and
shareholders, respectively, in this complex litigation. Adequacy of
representation is established.
The Complexity, Expense, and Likely Duration of the Litigation
--------------------------------------------------------------
57. This case involves a number of complex issues that, absent this
settlement, would likely take considerable expense and years to resolve,
culminating in a long trial followed by inevitable appeals. Counsel Aff.
Para.Para. 53-55 & 59-63.
58. Among other issues, many of Loch Harris's corporate records are
lacking in detail. To sustain plaintiffs' burden of proof, plaintiffs would have
to take numerous depositions in various parts of the country. With respect to
financial improprieties, plaintiffs would have to make use of financial experts, both in discovery and
through trial, to piece together evidence from diverse sources other than
corporate records. This could be a very expensive undertaking. Counsel Aff.
Para.Para. 53-55.
59. Throughout the negotiations, plaintiffs' counsel were aware that
the Fort Worth branch of the S.E.C. was investigating Loch Harris for possible
violations of federal securities laws. See, e.g., S.E.C. v. Loch Harris, Inc.,
Misc. Action No. 4-00-MC- 0046-Y (N.D. Tex. filed Dec. 18, 2000).(4) That this
investigation is not yet resolved is indicative that the matters raised are
complex.
60. Further, Loch's articles contain a limitation-of-liability clause
that, on its face, appears to immunize the defendants from ordinary breaches of
fiduciary duty. Counsel Aff. Para.Para. 61-62. This clause would pose complex
issues of enforceability and at a minimum would probably heighten plaintiffs'
burden of proof, increasing the complexity, expense, and duration of the case.
Id. See Second Cantor Aff., Ex. E, articles I & XII.
I hope the above helps one better understand.
One might believe they have your name, and they have phones there, so please give them a call.
You certainly don't have to wait on them to call, I never had a problem calling them and going in and visiting with them.
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