The trawling for clients is nothing new, but the subject matter is novel to me, and I wonder if it is a sign of things to come.
I tend to disagree violently with class action suits, particularly the trawling ones, but this type of suit is actually one that I think is long overdue.
I am not making any judgements on Unitek and its principals, but I do think it in exceptional poor taste to issue any options or instate any new options pools when a company's equities are trading at a near low, in particular when this trading value is, at least in parts, caused by weak controls and oversights by the same group of principals.
As a minimum, it creates a perverse incentive, which should be avoided.
I seriously doubt that this trawling will lead to a catch (and if it does, then, as usual for class action suits, the gains achieved will probably be minuscule and probably out of proportion to the loss of market capitalization that is bound to happen,) but I do think that the suit addresses an important problem in publicly traded companies.