sgw - class action

I have just received a letter from some solicitors asking me (as an unfortunate shareholder) to participate in a class action.

The objective is to have shareholders considered as creditors to share in whatever might be salvaged from the sale of the assets. They, of course, believe that the chances of success are very good. And the recovery rate might be in the ragne of 30 to 40 cents on the dollar.

And the cost to participate in this venture is $550 . . . plus cort costs if the effort is successful.

Anyone else receive a similar letter?

Anyone have views on whether this is a worthy punt?

Zonker