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Berry Petroleum Company, LLC Message Board

  • navkram navkram Feb 26, 2013 3:53 PM Flag

    Has Anyone talked to any of these lawyers?

    The first step for the law firms is finding enough shareholders to complain. Then the corrupt lawyers argue against each other to determine who gets class action. Then if they can meet the low hurdle suggesting there is a case the lawyers get to dig around BRY for evidence. BRY hired top notch investment bankers, so there should be no case, but if anything incriminating can be found they get to blackmail BRY management for all they can get. Typically the lawyers get tens of millions and the shareholders get pennies. If the lawsuit costs a significant amount the buyer can walk for failure to perform (they are not getting all they agreed to buy) or renegotiate the price down. I don't recall any case where shareholders got more out of a lawsuit against the board.

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