small shareholders deserve corporate governance and accountability from publicly-traded corporations
I own only 3,000 shares of SPPI, originally invested $51,000. If I sell today, I lose over $25,000. This may not be much to most of you, but it stung me a bit. Worst part was believing I did solid due diligence, studying SEC filings, financial statements, reading press releases, listening to quarterly conference calls, and relying upon officers forecast representations that turned out to be BOGUS, NOT EVEN CLOSE. Reading some of your comments, it seems as though you don't feel corporate representatives should be held accountable for their verbal and written (press release and SEC filings) forecasts? Personally, I expect honesty from CEO's, CFO's, Board of Director members. Am I being a sore loser, sore sport? Perhaps. But why should small shareholders come out the loser and Fiduciary Responsibility Officers only come out winners? Don't Class Action Lawsuits deservedly make the fraudulent liars lives just a little bit less enjoyable?
You did solid due diligence ?
Yeah Ok but you didn't know about the class action suit until your broker told you about just recently ,and your asking the yahoo message board for any information... I'll have to agree with Sherry your a fake.
You bought the shares in July '12, but the class action starts with the earnings release on Aug 8 '12. So only holders who bought after that and before March 12 '13 (the date of the disaster) will get anything.
Might seam unfair, but the way it works is only those who buy in after a fraudulent statement get money. And the class action is not charging any earlier statements as being fraudulant.
Now, if you want me hold hold Raj down while you kick him in the nuts, I will be gladd to help out :-)
Biotechnology investing is not an amateur sport. If you are not prepared for violent PPS shifts with ANY biotech you are investing in you should not be investing in this field. Sorry for the tough love, but it is what it is.
Biotechnology investing? I bought into a growth company that was reporting solid revenues and generating profits. The bio was supposed to be a potential bonus, the pipeline is a mere upside hope. But the revenue forecast was dramatically overstated during a conference call and in print. They changed those numbers only a few weeks later, extremely suspicious timing. Even Martha Stewart spent a little bit of time authoring books from inside a cell.
Thanks to fib11235 for pointing out the DATES for class action stock purchases. That's the FIRST post by any of you that actually answered my original questions. Didn't like the answer, but I appreciated receiving feedback. Thank you!