It is just that. The reality that there will be one firm that will be the lead plaintiff. And as far as I can tell its likely the right to "investigate".........So all this is mostly bark and no bite.....But this is the way these firms make their living, so we just have to accept it. Its all part of business. If you sneeze wrong you will have them at your doorstep.....JMHO D
Relax--unless cause can be shown--and there would really have to be some serious fraud here which, in all probability there isn't, these cases will be summarily dismissed. Better than that, if I am right, history shows that asset-rich companies recovering from accounting malfeasance, rise quickly and, in the long run, become outperformers. So--though I have no special information, statistics usually play a role here and all will be well. Risk is, as we all know, the issue here, but I think this is the time to load up on MHR. I am not interested in pumping this stock (I am long and not concerned about the present issue--though, like many, I am disturbed at such serious incompetence), but I bought 15000 shares last week--I may pick up a little more in the next few days.
I was sort of disappointed that there were no new lawsuit announcements on Saturday and only one on Sunday. The big thing here is one or one hundred it does not matter. Before any of this gets heard the 10K will be filed and we can see if there is anything real. If there was no significant issue then the lawsuits go away. If not, they get consolidated and MHR will be forced to waste a bunch of money fighting them.
Really too bad we do not have the rule that if you file a lawsuit and lose you are responsible for paying the other guys law costs to defend. That would stop this #$%$.