This kind of "news" is truly shameful and is another example of why our legal system needs to institute "loser pays". As mentioned they are attempting to con shareholders into tanking their own stock...baffling that anyone would sign up for this but, then again, some people do pay hundreds for the "scotch guard treatment" when they buy a new car. The longs on this board should launch a counter lawsuit against Far&Far for libel.
It doesn't bother me if they are wrong or made a mistake. But my first suspicion, honestly, is that this could be done as part of a coordinated effort to intentionally drop the stock price. The actual investigation should on Faruqi & Faruqi. Their computers and all their records should be confiscated and all communications should be searched to see if this was a truly coordinated effort with a hedge fund or some other person or entity. If they are clean, I have no problem, but if they are dirty, not only should the class action suit be against them, but a jail sentence should be in order. Otherwise, nothing could ever be done to stop a hedge fund from intentionally colluding with a law firm like this with the goal of fomenting.
CLASS ACTION LAWSUITS......A classic example.....
Saturday, 19 Jan 2013 10:00am EST
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at Isis Pharmaceuticals, Inc. The investigation focuses on whether the Company and its executives violated federal securities laws by misleading investors to believe that one of the drugs in Isis' product pipeline, Kynamro