On the law suit against THQI. Four firms have announced the law suit, and two of them have filed. And the reason for a law firm repeatedly announce the class period is because they cannot get enough clients to sign up. I think they have to have certain number of shares in order to file a class action law suit. And the institutional holding before this big slide was something like 87%. I think few of those institutional holders will join the suit. And a lot of individual investors who bought earlier are not in class period, so not many people left are eligible for the class period. With four law firms chasing after limited number of potential clients, I think one or two of them have to give up filing the suit. |
And pay attention to this firm's wording: "Spector, Roseman, & Kodroff has filed Class Action lawsuits against or asked to investigate the following companies ..."
Their law suit is not even necessarily against the company, but only ask to investigate the company. A big difference between the two.
I just hope the company will do something quickly about these law suit, whether it has merit or not. Because the stock price will not move and momo's will not come back until these law suit are resolved. FWIW.