Replies to post #3963 on Nymet Holdings Inc. (fka NYMH)

[rrufff]

Unfortunately, class actions are pretty much a waste of time. Even if successful, the return is usually a couple of bucks for shareholders and large attorneys fees.

In this case, you would need a local attorney, who is NOT one of the class action factories. He would have to go outside the box, outside the boilerplate pleadings, and would have to do a shareholders' derivative action in an attempt to trace assets that have gone to insiders because, ultimately, I doubt there is a significant solid asset base in the corporate entity. Just my opinion and I have not seen anything that discloses where the money from all these dumped shares have gone.

Tracing assets to a scammer involves non-boilerplate type law practice and you need a good hungry local attorney who sticks to it, not a class action guy who just shuffles papers.

From a practical standpoint, the only solution to stopping these types of scams are as follows:

1) SEC

2) State Regulators

3) Publicity - which motivates 1 and 2 and is the bane of the scammers' existence.

[Mastervest]

What proof do you have? Til now no one has come up with solid facts against this company. How do you know that anything that they put out in prs is a fraud? The fact is that you don't and nobody else does either. I am a 50,000,000 shareholder here and have been trading this stock since June of last year.

[Mastervest]

What proof do you have? Til now no one has come up with solid facts against this company. How do you know that anything that they put out in prs is a fraud? The fact is that you don't and nobody else does either. TIL YOU COME UP WITH PROOF, I WILL CONTINUE TO HOLD because this will move eventually.