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Stock market talk: enernoc going in class action lawsuit?

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Stock market talk: enernoc going in class action lawsuit?

Old 03-10-08, 10:57 AM
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Stock market talk: enernoc going in class action lawsuit?

So this company I invested stock in got into trouble for false representation, (false income or something.)

Now they're being sued by a class action lawsuit. A firm representing this case wants stock holders to chime in and may be a possible lead plantiff.

http://biz.yahoo.com/iw/080308/0372351.html

What does this mean? Will stockholders of this company get money back or something?
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Old 03-10-08, 11:19 AM
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I get these type of things pretty often. Usually when a company's stock drops unexpectedly, a bunch of attorneys will get together and file a class-action lawsuit on behalf of the stockholders. If there is a settlement, the legal fees will eat up most of it and you might get a check for 4 cents.
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Old 03-10-08, 11:24 AM
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i just looked at the financials, you deserve it
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Old 03-10-08, 11:26 AM
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Originally Posted by Mole177
What does this mean? Will stockholders of this company get money back or something?

It means that if they are sued and the suit is successful, the settlement (dollars) is created and a means devised to divide up the proceeds after the attorney fees.

The few of these that I have participated in result in fractions of a dollar per share after many. many years have passed. I just got a check the other day as part of the Worldcom settlement. I think the check is for $3.40.
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Old 03-10-08, 11:35 AM
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Will the company cease to exist or will normal everyday functions resume?
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Old 03-10-08, 11:39 AM
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Originally Posted by Mole177
Will the company cease to exist or will normal everyday functions resume?
Well that is impossible to say, it would depend on what the outcome of the suit was and if there were any further issues like IRS or SEC involvement.
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Old 03-10-08, 12:11 PM
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Originally Posted by Brian Shannon
It means that if they are sued and the suit is successful, the settlement (dollars) is created and a means devised to divide up the proceeds after the attorney fees.

The few of these that I have participated in result in fractions of a dollar per share after many. many years have passed. I just got a check the other day as part of the Worldcom settlement. I think the check is for $3.40.
Not our fault you only had 10 shares!
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Old 03-10-08, 12:14 PM
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Originally Posted by Superman07
Not our fault you only had 10 shares!
Actually as I recall I had closer to 3 or 4 hundred
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