They need a lead plaintiff to get stronger standing before the court. Otherwise they just have a general class action they would hope to get certified. A lead plaintiff assures them of a seat at the bargaining table with all the other law firms and the possibility of being lead or co lead counsel.
This ain't about us. This is about dividing up the fees.
Sadly, I am "represented" by Senator Blumenthal. As CT AG he totally exceeded his constitutional mandate and made the Office a "Bully Pulpit" for his further political ambitions.
I am sure this is an easy way to get publicity, maintain good relations with lawyers,and generally further his plans.
BTW, if there is nothing to fear about collusion, bring it on.
The one way to discredit the tort lawyers is to prove them wrong.
The story is real. The investigation is real. The slime law firms lining up like carrion is real.
I think your anger is mis directed. I think your opinion of TRN is spot on. That being said, all this will cloud the waters and probably the stock price.
I expect 85,000 railcar deliveries in 2015 and a slightly lesser amount in 2016. I assume TRN's order book lightened because all await the new tank car safety directives. Once published, we will learn how long older cars can remain in service and the math will quickly determine the rebuild vs new build decision. As long as the WTI/Brent spread favors domestic crude for Eastern refiners TRN and its peers will be busy.
I do believe the Tort lawyers got the ears of some Washington friends so that part will drag on.
up 10/down 10 We are all prisoners to that. Once the RIC status is confirmed they should be selling all the liquid holdings. I am sure they are thinking of ways to screw the stockholders but that is going to be tempered by their need for a good rep for future investors.
not sure it will be dead for long. Just started looking. Wunderlich thinks it is worth 20. That looks like a very powerful BOD. They all know the game. I am really intrigued but do not own it currently.