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over the mountain · 08-13-2015, 09:57 AM

BS class action lawsuits where the attorneys make all the money and the class of actual victims get pennies, literally.

I just received a class action notice against facebook if you bought their shares during their IPO, which I did.

in exchange for payment of 26.5 mil, I would get ..... 15.5 cents. The attorneys? they get 1/3 of the 26.5 mil ....

im an attorney but this is such BS.

they dont even tell you what Facebook did.

The only explanation given is this: "The lead Plaintiff's alleged that the NASDAQ defendants acted negligently in violation of the federal securities laws in connection with Facebook's IPO on May 18,2012, and that retail investors in Facebook common stock that day suffered damages as a result of that conduct."

WTF? when i got a class action notice re a B of A issue where i know i lost 2k plus in fraudulent fees, i called the number that had been given on the notice which directed you to a website ... the website was "under construction" all the way up to last day to opt out. i got a check from B of A for a few bucks.

Class actions are BS, they only enrich the attorneys.

08-13-2015, 09:57 AM	#1762
over the mountain Playmaker Join Date: Mar 2007 Location: close to the edge Posts: 4,926	Re: What REALLY grinds your gears? BS class action lawsuits where the attorneys make all the money and the class of actual victims get pennies, literally. I just received a class action notice against facebook if you bought their shares during their IPO, which I did. in exchange for payment of 26.5 mil, I would get ..... 15.5 cents. The attorneys? they get 1/3 of the 26.5 mil .... im an attorney but this is such BS. they dont even tell you what Facebook did. The only explanation given is this: "The lead Plaintiff's alleged that the NASDAQ defendants acted negligently in violation of the federal securities laws in connection with Facebook's IPO on May 18,2012, and that retail investors in Facebook common stock that day suffered damages as a result of that conduct." WTF? when i got a class action notice re a B of A issue where i know i lost 2k plus in fraudulent fees, i called the number that had been given on the notice which directed you to a website ... the website was "under construction" all the way up to last day to opt out. i got a check from B of A for a few bucks. Class actions are BS, they only enrich the attorneys.