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.
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
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.
to you and all longs...
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
`Strategically and in terms of market
access, this deal makes a lot of sense,'' Birck said.
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.
You buy a stock and it goes down so you are going
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
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
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.
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.
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.
mean any of this sarcastically. I really do
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!
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
Well let me retract that statement....I wouldn't
want to insult slime. Slime actually serves a useful
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.