Gary, if we have tremendous success, litigation will come from those who sold with losses, those who sold with gains, but would argue they sold due to lack of information, would not have if the company had provided necessary information (fiduciary duty), heaven knows what else. May not have a high likelihood of success, but attorneys are open to take the cases on a contingency basis. Even assuming the company prevails, the bad PR and the legal cost and any settlements associated with defending them will be incurred, and given the way legal fees pile up, it may be cheaper to settle some of them. I had occasion to deal with defense attorneys on a regular basis before I retired. I was initially frustrated with the company choosing to settle cases with where the facts indicated a defense verdict before I became aware that the cost of defense and eliminating the risk (risk/reward) of a loss were major factors in determining settlement vs defense.
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