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Thread: Anyone else see the XING class action...

  1. Default Anyone else see the XING class action...

    I got notice of a class action suit againg JSDA, a stock that I own currently. Why would I want to sue the company and cost them money and make my stock go down even more. the only people making money on these suits are the lawyers.

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    Probably not much, the suit would win an award for damages that would get 30% or so for the attorneys and then a percentage for each affected shareholder. Take a $100 million award less 30%, less 20% for distribution expenses (like the notice you got in the mail) divided by the average float for an issue of around 100 million and you end up with a $.50 per share award to the shareholders and a precipitous drop in the share price.
    I couldn't find a single suit where shareholders at the time of the class action being announced made out positively. If you sold before the class action you had a better chance.

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    The oustanding shares (that are available to trade, as opposed to treasury stock that the company holds). This is how market cap is determined, Outstanding shares times share price equals Market cap. A typical issue is around 100 million shares.

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    so i had 500 shares at one point, i will get about 50 cents a share?? that would be Great!! for some reason I don't think this will happen, but if it did, it would be great. Forgot to add that I only held this stock for an earnings play, lost about 500 bux on it too.

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    Everyone has to evaluate the field they're playing in and their potential ability to play in that field and stay alive and make money.

    IF you are not a FT dayer, you should never invest in short term bubbles and listen to the pumpers, it is way too risky and the losses can destroy you quickly.

    For those of us who do this 9hrs a day, it is extremely profitable and I will continue to do it as long as I can see. My average hold time on a stock is 24hrs or less, some a matter of minutes...I've never hit BUY and set stops and walk away.

    Pick your game and play it:wink:

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