DiNapoli says the class-action suit is intended to recover damages sustained from the decline in shareholder value subsequent to the Deepwater Horizon's explosion and oil spill. The fund, which provides benefits to more than a million active and retired state and local government employees, held more than 19 million shares at the time of the April disaster.
at thirty a share isnt this like $570 million dollars lost since April
Someone help me understand how a shareholder suit is supposed to help shareholders. Any money they get comes out of the companies fund which belongs to shareholders. The only people who benefit are the lawyers. The only possible advantage for shareholders is that in event of BK the claims would be added to other claims and perhaps shareholders would get a buck or two if the stock goes to zero.
ROFLMFO- the shareholders had plenty of time to do due diligence and any one of them could have pointed out that 7kpsi crude could be loaded up with methane. Most of the loudest critics lost money on the trumped up real estate bubble too, but no law suits? ROFLMFO. Now for the trumps to attack greedy people who even tried to do something useful. This is why I think unabomber will get more popular. The trumps are furious and need to deflect attention from their own greed and uselessness. Technology is now unsafe since the people in control have no respect for Nature and truth, just manipulating engineers. So, they will eventually cause disaster after disaster and can't imagine that there is a better way.
all praise the avenging trumps trying to save the trumped up brats they raised but without luck
ROFLMFO. save the baby humans who happen to be 50 years old.
The idea is that the stock fell because of wrongdoing by officers. Not likely to go very far, too hard to tell the difference between malfeasance and stupidity, officers were both but mainly just greedy. These shareholder lawsuits usually only make money for the lawyers.