Replies to post #25756 on World Surveillance Group Inc (fka WSGI)

[housedad]

All the suits will be rolled into one. I don't know if the 50 apply.

[db_ill_invest]

My understanding is the March 2006 Supreme Court decision has made it more difficult for these securities lawsuits to move forward. I have some lawyer friends who tell me their take is that their isn't big money in it for the law firms anymore and that most cases won't be on contingency anymore and will require plaintiffs to come up with some of the expenses depending on the size of the case and possible expected settlement proceeds. Obviously a larger market cap stock like XMSR with 50 defendants is a bigger potential score for the firms than 50 plaintiffs from GTE IMO. Of course a big pocket manipulator with an agenda would just fund all these cases to go forward for the damage it would cause the company's repuation in GTE's case. Although the company won't be out much money even if they are settled as company's typically have insurance for this and will only be responable for the deductable. IMO.