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Reaves Utility Income Fund Comm Message Board

major_electric 1 post  |  Last Activity: Nov 26, 2014 9:05 AM Member since: Jul 24, 2008
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  • major_electric by major_electric Nov 26, 2014 9:05 AM Flag

    I posted the following comment on one of the Yahoo news articles (really an attorney advertisement news release, I guess). Just wondering if I'm seeing things correctly or missing something.

    "I don't see how any investor who sold CASY shares prior to the accounting/tax error announcement could claim damages due to the error, if anything it would seem that they would have benefited from the error.

    For those who owned shares at the time of the announcement (like me) how can suing ourselves give us any relief because current (and future) shareholders are the ones who will pay any damages awarded (in part, to ourselves) plus litigation costs for both sides. The possibility of impending litigation will only serve to drive the share price down and result in more financial damage. At this point, it seems to me that it is the class action law firms eroding share price and causing investor financial damage, rather than the original CASY error.

    I'd prefer to sue these ambulance chasing blood suckers. "

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