Shareholders get nothing, lawyers $1.2 million, comments accepted until April 20. Writes @Popehat, “found PDF settlement notice online (they made it hard). Truly awful settlement, not even named class reps get a penny. Sole consideration is revised SEC filing. No opt-out for anyone.”
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As I’m not a lawyer, pehaps someone can help me out here. How is it that not only do the plaintiff share holders get no money, but don’t even have a choice to opt out? I would have guessed that this would not be legal. Also, how do lawyers “earn” $1,200,000.00 for winning nothing in a civil suit?