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billpr

03/31/11 11:00 AM

#30132 RE: stockguy1000 #30130

Although I think a R/S is inevitable and needed (not 1:100), what if anything, would you recommend be done with that 1.5K cash by 6/30/11? Just curious??
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ztect

03/31/11 12:42 PM

#30143 RE: stockguy1000 #30130

no, i actually tried to instigate a CA against another company and spoke for hours with many different attorneys who specialize in class actions. None would touch the case on a contingency without being assured they'd be able to collect via the D & O insurance. Judgement is one thing, collection is another. Lawyers don't care solely about winning, they care about being paid. So even didn't have anything to do with the strength of my case, since ultimately the management of this other company was convicted of fraud by the SEC. The CEO is now in the his fifth year of a 20 year sentence in a Federal pen. And yeah I was awarded $134,000 each in restitution from 7 different people, of which to date I've gotten $2,000 total without any assurances of getting any more.

so no you're are a more than a little misinformed as to the costs of and the ability to pursue "remedies", since judgment and collection are two different animals.