GE Fair Fund Claim. Worth it?

[thedaybeforetoday]

Hello all,
Long time listener, first time writer...

Owned and purchased small amount of shares (lets say 20) and eligible to file a claim as part of GE settlement for misrepresenting their financials a few years back. I no longer own the stock.

Is it worth it to spend the hour to fill out the form, not to mention the added time to look through and print or upload transaction history?
Willing to do it if it's worth my time, but if it's only for a few bucks, I'll pass (I realized that calculous is subjective).

I can't seem to find any kind of information on any kind of formula or $/share I may be entitled to in an effort to answer the question above.

Anyone have any ideas?
Thanks!

[Parkinglotracer]

I deleted my brokerage notice about this earlier this morning - I have been conditioned to think only the lawyers get any money from these settlements.

It’s spam to me.

[MrJedi]

There are some specifics here. Looks like Exhibit A has some actual numbers you can calculate.

https://www.sec.gov/litigation/admin/20 ... 23-pdp.pdf

[happysteward]

Following this,has anyone ever received any money from this type of lawsuit.

Kind of seems a bit fruitless….

[thedaybeforetoday]

There are some specifics here. Looks like Exhibit A has some actual numbers you can calculate.

https://www.sec.gov/litigation/admin/20 ... 23-pdp.pdf

Yes, thanks for finding and posting that info.
Table A at the end seems to indicate it ain't much and probably not worth my time.
Thanks again.

[illumination]

Following this,has anyone ever received any money from this type of lawsuit.

Kind of seems a bit fruitless….

I think they usually are fruitless.

But I did one time participate in one against BP. It had a very large settlement fund set up and had very specific criteria to qualify (you had to have purchased stock in like a one month time frame) And it had to be divided up to the people that made a claim, so I thought there was a good chance it would be worth my time. I got like a $1,000 check. I also told someone I knew that also had BP stock (but a larger position) and urged them to fill out the paperwork. They got like $5,000.

[tunafish]

Following this,has anyone ever received any money from this type of lawsuit.

Kind of seems a bit fruitless….

I've received a couple of 1 to 2 digit checks, and once slightly more slowed up. I never fill out anything and ignore them. This is all about corrupt lawyers. This should be made illegal somehow.

[Wiggums]

I never received money from this type of claim. I wouldn’t fault you for filing a claim, but it’s not worth my time.

[jgalt133]

I never held GE stock directly, but I did hold it in a mutual fund. Wondering if that counts. The FAQ didn't specify. Either case, I'm certain it's not worth my time.

[geloser]

Today I learned there are 1.1 million claims filed with the GE Fair Fund. These claims will be processed and the winners get to share $200 million. Considering all claims will be equal (which they will not be); does that mean each defrauded investor will receive less than $200? I am guessing this is probably true.

[secondopinion]

Today I learned there are 1.1 million claims filed with the GE Fair Fund. These claims will be processed and the winners get to share $200 million. Considering all claims will be equal (which they will not be); does that mean each defrauded investor will receive less than $200? I am guessing this is probably true.

You are right, but you have to subtract legal fees and costs to conduct the payment (making the amount even lesser). Unless someone actually had a large stake in GE, it will not be worth it.

[buzzz_buzzz_buzzz]

IBKR has an automated securities class action recovery service that is free to enroll in but does charge a sizable contingency fee (20% I believe). I wish more brokers offered this -- seems it would be a win/win.

[pshonore]

Today I learned there are 1.1 million claims filed with the GE Fair Fund. These claims will be processed and the winners get to share $200 million. Considering all claims will be equal (which they will not be); does that mean each defrauded investor will receive less than $200? I am guessing this is probably true.

You are right, but you have to subtract legal fees and costs to conduct the payment (making the amount even lesser). Unless someone actually had a large stake in GE, it will not be worth it.

I think it would be pro-rated on # of shares and possibly how long you held. So someone with 1000 shares would get 10 times what a 100 share holder would get. I got something from (KHC) Heinz a few weeks back but unfortunately bought shares the day after the "eligibility period" ended, BRKB had a large stake in that so perhaps my BRKB shares will go up.