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Corrections Corporation of America Message Board

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  • tmacker tmacker Jul 23, 1999 7:59 PM Flag

    d%&$** unions

    [\disclaimer on: IANAL]
    [\second disclaimer
    on: playing 'devil's advocate']
    as far as the
    legal beagles are concerned, just because PZN common
    price recovers to a reasonable level doesn't mean there
    was 'no harm done'. For anyone gullible enough to be
    conned into the 'lead plaintiff' position, I'm sure they
    were advised to sell near the bottom to 'lock in'
    their loss. Thus the 'harm' outlasts the bottoming out
    of the price. The premise of the lawsuits goes along
    these lines: the truth was withheld by responsible
    corporate officers from stockholders who had a right to
    know. They will attempt to prove that the deception
    (for such it apparently was) was done knowingly, with
    willful intent to deceive, and for the purpose of
    personal financial gain on the part of the individuals
    withholding the information.
    Having caused harm (financial
    loss) to the injured parties, they then compounded the
    damage by publicizing the problems. Once the negative
    information was made public, the class members were 'forced'
    to sell at a loss to preserve the remaining, albeit
    substantially diminished, capital assets.

    disclaimer off: playing 'devil's advocate']

    Now, can
    any of these [pick your favorite demeaning adjective]
    sewers prove fraud or intent? Seems unlikely. Can they
    make themselves a nuisance, like some of the shills
    and bush-beaters who appear here periodically trying
    to stampede the unwary? Seems likely. They may not
    ultimately prevail, but they can certainly add aggravation
    and stress to an already difficult situation. Don't
    expect these flaw-suits to just disappear. If lack of
    merit were the operative criteria, civil dockets
    wouldn't be backed up seven years, as they are in most
    [\disclaimer off: IANAL]
    The Majority Advocates Civil Kudos
    for Eliminating Ruction

25.78-0.26(-1.00%)Nov 30 4:03 PMEST