Class Action suit against DDD?

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Lemonaid56
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Class Action suit against DDD?

Post by Lemonaid56 » Sat Apr 07, 2018 11:27 am

Not sure where I would post this topic so I shall try here.
So, just received in the mail paperwork regarding a Class Action suit again DDD Corp. I know owning individual stocks is not the Bogle way but I bought 529 shares before I saw the light. I bought these under the "buy and hold" theory of MotleyFool. Despite having lost (on paper) roughly $13K I have held onto these stocks the last four years and had planned on holding them.
I'm not sure what this Class Action suit is all about. The way I understand it they inflated the price of their stock against Security Exchange regulations and now have decided to settle rather than to continue fighting it.
So I am wondering if any of you people also bought this stock and what are your thoughts about the suit and what might you recommend?

simple man
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Re: Class Action suit against DDD?

Post by simple man » Sat Apr 07, 2018 11:31 am

Unless you are serious about hiring your own lawyer and going after them for whatever (which would not make sense), fill out the class action paperwork if you qualify. Good chance you would get a few dollars.

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Lemonaid56
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Re: Class Action suit against DDD?

Post by Lemonaid56 » Sat Apr 07, 2018 1:01 pm

Thanks for your reply.
I just read some more of the paperwork over lunch and looks like I'll only get a few hundred dollars if I understand it correctly. If I don't send in the paperwork I'll get nothing.
A hundred dollars is enough to get my attention!

kappy
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Re: Class Action suit against DDD?

Post by kappy » Sat Apr 07, 2018 1:09 pm

Use them to offset gains when you sell something else. That's what I did with a small amount that I held from a few years ago.

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David Jay
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Re: Class Action suit against DDD?

Post by David Jay » Sat Apr 07, 2018 1:24 pm

These class action lawsuits happen almost every time there is a big drop in stock price. The usual result is 5 or 10 million dollars for the law firm and pennies a share for the shareholders.

I got an 83 cent credit in my Kindle account from that class action lawsuit. A cynic could see these class-action lawsuits as a full-employment plan for lawyers.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

Chicago60
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Re: Class Action suit against DDD?

Post by Chicago60 » Fri Apr 13, 2018 1:46 pm

You won't know how much you receive unless you complete the claim form in a timely manner and send it in, but the class notice provides the settlement is for $50 million, if approved by the federal judge. Your share of the recovery likely depends on the number of people who submit valid and completed timely claim forms. I cannot imagine it will take you more than 15 minutes to complete, even if you have to look up your old tax returns and brokerage statements to show proof of purchase, sale, and dates. I think you'd be crazy not to fill it out. I am not a class member, but if I were, I'd hope you and others had David Jay's attitude and skip it--why enrich the lawyers--so my share of the recovery would increase.

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Lemonaid56
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Re: Class Action suit against DDD?

Post by Lemonaid56 » Fri Apr 13, 2018 6:23 pm

Chicago60 wrote:
Fri Apr 13, 2018 1:46 pm
You won't know how much you receive unless you complete the claim form in a timely manner and send it in, but the class notice provides the settlement is for $50 million, if approved by the federal judge. Your share of the recovery likely depends on the number of people who submit valid and completed timely claim forms. I cannot imagine it will take you more than 15 minutes to complete, even if you have to look up your old tax returns and brokerage statements to show proof of purchase, sale, and dates. I think you'd be crazy not to fill it out. I am not a class member, but if I were, I'd hope you and others had David Jay's attitude and skip it--why enrich the lawyers--so my share of the recovery would increase.
Oh I am definitely filling this one out. Free money? Yes please! I had the same thoughts as you hoping few others fill out the paperwork. Not being greedy but why give the lawyers all the free stuff?

Chicago60
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Re: Class Action suit against DDD?

Post by Chicago60 » Sat Apr 14, 2018 8:34 am

Lemonaid56 wrote:
Fri Apr 13, 2018 6:23 pm
Chicago60 wrote:
Fri Apr 13, 2018 1:46 pm
You won't know how much you receive unless you complete the claim form in a timely manner and send it in, but the class notice provides the settlement is for $50 million, if approved by the federal judge. Your share of the recovery likely depends on the number of people who submit valid and completed timely claim forms. I cannot imagine it will take you more than 15 minutes to complete, even if you have to look up your old tax returns and brokerage statements to show proof of purchase, sale, and dates. I think you'd be crazy not to fill it out. I am not a class member, but if I were, I'd hope you and others had David Jay's attitude and skip it--why enrich the lawyers--so my share of the recovery would increase.
Oh I am definitely filling this one out. Free money? Yes please! I had the same thoughts as you hoping few others fill out the paperwork. Not being greedy but why give the lawyers all the free stuff?
Respectfully, I assume your response was tongue-in-cheek, but nothing "free" at all about what you and other class members are entitled to as a result of defendant's alleged misconduct, or the thousands of hours of time and thousands of dollars of expense the class action lawyers incurred.

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Lemonaid56
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Re: Class Action suit against DDD?

Post by Lemonaid56 » Mon Apr 16, 2018 4:12 pm

Yes "Free" is a bit over enthusiastic. I've lost enough on paper with this stock that it would take a significant amount of dough to "make" money. I sent in the paperwork and will continue to hold on to this dog.
I bought it as a buy and hold stock so I am committed to ride it out!

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David Jay
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Re: Class Action suit against DDD?

Post by David Jay » Mon Apr 16, 2018 5:00 pm

Chicago60 wrote:
Fri Apr 13, 2018 1:46 pm
I am not a class member, but if I were, I'd hope you and others had David Jay's attitude and skip it--why enrich the lawyers--so my share of the recovery would increase.
I didn't skip it. I got my 83 cents.

But I would like to see a higher bar. Several micro-cap firms that I have owned had to pay out millions to lawyers for, essentially, a falling stock price. I have seen several of the letters from law firms saying, essentially: "your stock price fell, will you be our plaintiff so we can sue" because there was no natural plaintiffs.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

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VictoriaF
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Re: Class Action suit against DDD?

Post by VictoriaF » Mon Apr 16, 2018 5:20 pm

I thought it was a suit against a bra size.

Victoria
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aristotelian
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Re: Class Action suit against DDD?

Post by aristotelian » Mon Apr 16, 2018 5:33 pm

I got something like this when DELL got busted for cooking their books. I filled it out but never heard back from the lawyers.

Chicago60
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Re: Class Action suit against DDD?

Post by Chicago60 » Mon Apr 16, 2018 5:36 pm

aristotelian wrote:
Mon Apr 16, 2018 5:33 pm
I got something like this when DELL got busted for cooking their books. I filled it out but never heard back from the lawyers.
You can check the status of the case online. I assume the Notice included the website. It may be that the settlement was not finally approved by the federal court, or you did not properly complete the claim form, or you were not eligible for some reason, or you were not actually a member of the certified class.

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Re: Class Action suit against DDD?

Post by pkcrafter » Mon Apr 16, 2018 7:15 pm

An example of specific stock risk.

Victoria... :wink:


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When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

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