GetSwift to Consider Takeover After Bid Approaches, page-367

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MTX2000

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04/02/18

09:22

Post #: 30801787
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Originally posted by Nanday ↑

I have participated in 2 class actions, if you read my recent post, it explains that companies don't automatically get brought down by a class action. The ones I participated in have gone on to trade strongly - the class action was regarding a defined timeframe in their trading history when it was asserted by the legal firm that their was manipulation of the stock price by withholding information about contracts, or making inflated claims about them which were designed to manipulate the share price.

The company has changed it's name to get the stench of the old company off it, I suppose, but the share price recovered and it still trades strongly without new owners or any other changes.

Since there wasn't a court case, (there was a settlement), they never had to accept a ruling that they HAD actually done anything to manipulate the share price.

So assuming that there is a class action, and that GSW defend it all the way to court, even if they lose, 4 years easily could have gone by. A lot can happen in 4 years. I don't know what would happen in a class action where the company is sold, perhaps taken private again, before the class action gets to court. I would guess that the class action could only go after any assets held by the original entity as the class action would not transfer to the new owners, and if they reduce it to a shell, there would be nothing to go after.

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Thanks , I was thinking that even if you divided current assets up across all participants in a class action that you would get cents in the dollar for your efforts.

GSW Price at posting: $2.92 Sentiment: Hold Disclosure: Held
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GetSwift to Consider Takeover After Bid Approaches, page-367

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