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Ciena Corporation Message Board

  • kathy2933 kathy2933 Aug 26, 1998 9:29 PM Flag

    How would you feel if it was YOU that pa

    If you bought the stock recently, I congratulate you. But some
    people paid a lot of money. So, it is fair that those be protected! A lawsuit is the right thing for me.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The Lawyers will take home the bacon....not you and other shareholders.

    • class action law suit.......well actually you
      will get something, a whole lot of aggrivation. I talk
      from experience. Years back I lost $68,500 in Tandon
      -TCOR, don't look for it, because it's not around
      anymore. They invented the Winchestor disk drive, and was
      ,at the time bigger than Seagate in the disk drive
      market. Anyhow they absolutely did something wrong, it
      was a company run by a lot of family members, with
      the last name of Tandon. They positively knew bad
      news was coming and held back until all the relatives
      sold their stock. the fact of the matter is that
      companies carry insurance to cover these class action
      lawsuits. And do you know who who winds up with the lion's
      share of the settlement? If you think it is the
      shareholders, you are dead wrong. Out of my $608,500 loss, I
      wound up with a grand total sum of $450 dollars, and
      the best part about that is it only took me FIVE
      YEARS to get that. In the meantime I spent about $100
      on long distance phone calls to TRY and find out
      what the hell was going on. If you decide to
      participate in the suit, I guarantee you , you'll never waste
      your time on that type of B.S. again. The LAWYERS are
      the only winners, not the SHAREHOLDERS. I personally
      don't see where there is a case against Ciena, what
      exactly did they do wrong ? They can not be held
      responsible for their stock going to 90 and back down.
      Emotional purchasers and sellers of the stock can take
      responsibility for that. Unless they blatantly lied about
      something, there is no case, simple as that. Lawyers file
      cases like this all the time, they are nuisance cases,
      and they hope the companies will settle out of court
      just to save the trouble. It's the way they make THEIR
      living, not yours. Even if you lost a million dollars,
      you will be totally disgusted with your share of the
      pie, IF there ever is one. Don't take my word for it,
      ask around and try and find yourself a satisfied
      person who shared in a class action lawsuit.

    • <<If you bought the stock recently, I
      congratulate you. But some
      people paid a lot of money. So,
      it is fair that those be protected! A lawsuit is the
      right thing for me. >>

      I am very sorry if
      you bought the stock for $90/share. I have been in
      the stock investment for more than ten years. I had
      made some and lost some money. Some of the stocks I
      bought several years ago and still have the paper, but
      they were completely disappeared from the WS such as
      Cascade International (1991) and Continental Airline
      (1991), or Summit Technology (Bought in 1995 at $43, now
      is $4 11/16). I received the notice of the class
      action lawsuits for all of them by mail. Today, I am
      writing this message to you, I have NOT received even a
      penny from the lawyers yet. Don't be fool that the
      lawyers want to protect you. In this CIEN case, I
      obviously don't see CIEN or its managements doing anything
      illegal at all. This lawsuit as many other class action
      lawsuits is just a wasting time and money for both the
      lawfirm and the company.

      Good luck to your
      lawsuit.

    • I remember paying 80 for Cliffs Drilling
      NYSE:CDG, and I still own it today, why because I am in it
      for the long term and I do beleive that it will again
      return to its previous glory and exceed all my
      expectations for it. I guess it all depends on what your
      expectations are for an investment. If you expect short term
      gains then I would tell you that you missed a move if
      you paid 90 you should have sold at about 85 1/2 a 5%
      drop on a short term trade is about all most traders
      can handle. If on the other hand you are in this game
      for 20 years then this little pause in the price of a
      great stock like CIEN (which in my opinion will be
      taken over at a premium by TLAB another great company)
      means nothing. Its your choice Kathy, if CIEN was a
      trade for you, then you lost and might as well lick
      your wounds and go away a little smarter. If CIEN is
      an investment then forget about it, put it in the
      closet and look at it 5 years from now and I assure you,
      you will have a pleasent surprise.

      Good luck
      to you and all longs...

      • 1 Reply to Techtrader101
      • READ THIS YOU FOOLS ! AND STOP ALL THE BICKERING,
        F THE LAWSUIT..MEANS NOTHING, MY BABY ASCEND HAD 10
        LAWSUITS AGAINST IT AT 23 BUCKS..IN 2 MONTHS IT WAS AT 50
        BUCKS..END OF LAWSUIT..READ THIS !!..IT IS ALL YOU NEED TO
        KNOW

        `Strategically and in terms of market
        access, this deal makes a lot of sense,'' Birck said.
        ``We've got
        to find a way to make it work. The
        question is at what price.''
        Birck said he and Ciena
        chief executive Patrick Nettles spoke twice over the
        weekend and were still
        committed to the transaction.
        Nettles could not be reached for comment.

    • for the stock market you shouldn't be playing here. Take
      your money and buy a bank CD.

      "I am going to call my lawyer....nah nah nah"

      Gimme a break!

    • You buy a stock and it goes down so you are going
      to sue?
      I buy lots of stocks and some go up and
      some go down and some go down a lot. I have one that
      is down about 90% and I bought BOST at 13 and it is
      at 1+ now.

      Put your money in a CD and get
      your 4% and if you lose your money you can call the
      FDIC.

    • I am sorry that you paid too much, and got caught
      in the crash...but its not like no one knew this is
      a volitile market, and a market like this severley
      punishes stocks for bad news. That doesn't mean that
      anyone at CIEN did anything illegal (or immoral). (I'm
      not sure that I can say the same for the folks at
      ATT).

      I doubt that there is a basis for the suit, but IF
      there was a conspiracy to deceive shareholders and lie
      to the market and TLAB then those responsible should
      pay the price.

      But let's not seek a legal
      remedy every time our stock portfolio tanks.

      At
      90, CIEN's PE ratio was over 70! That should have
      told you something.

      I would suggest you stick
      to more conservative investments than techs or
      perhaps even equities. There is no FDIC here.

      Your
      best choice to to hang on for a merger, and then
      assess the strength of the new union. Alternatively
      you've got a big tax loss carry forward.

      I don't
      mean any of this sarcastically. I really do
      sympathize.

    • Kathy -Hold onto your shares and your legal
      fees....keep them securely in your handbag.No legal suit
      against Ciena will hold up, because there is no evidence
      and justifiably so.... This suit is initiated by some
      sleazy lawyers......remember, lawyers are probably the
      most corrupt people on earth.I too paid for my 2500
      shares much above what the price is now....I am in there
      for the duration until this fine-kettle-of-fish is
      over.....we will still get there. Remember, you heard it here
      first!Hang on, don't hang yourself!

      • 2 Replies to Diddybytcha_
      • Kathy, I understand your frustration, as a small
        investor getting in at 90. At 90, even with the merger,
        you have no way of making any money, from a
        risk/return point of view. Second, the lawsuit, you may
        think, it might help you, in reality , it may not. The
        greedy lawyers will try to squeeze out as much as
        possible from small investors. It is not good for you, at
        least in this case, as the company, as I looked in
        didnt involve in any scam, like cendant (or) columbia.
        Unless it is proven the insiders sold, at 60-70 , with
        the prior knowledge of ATT order is out the lawsuit
        will fizzle out.

        The truth of the matter, dont
        jump into any hot stock, at overvalued prices!! At any
        cost, u are bound to lose. The stock got tanked because
        of the ARBs getting squeezed!!! Not because of
        insiders selling, looking at the volume. If the insiders
        sell this much volume, then SEC will be after
        them.

        Goodluck.

      • Well let me retract that statement....I wouldn't
        want to insult slime. Slime actually serves a useful
        function.

        When will Congress (largely a bunch of lawyers) end
        these expensive jokes on the public. Every time a stock
        gets slammed by the free market, these largely "New
        York" law firms file these absurd lawsuits to force
        companies to court and waste precious shareholder funds.

 
CIEN
19.36+0.09(+0.47%)Dec 19 4:01 PMEST

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