Class Action Lawsuit: Short TR
Back in December 2003 I took a large and sudden loss in an investment in Network Engines (Nasdaq:NENG) when they released news that stated they had lost their largest customer. I knew about all the class action lawsuits from back during the bubble and thought they were a bunch of rubbish and a waste of time. Despite that, when I got inquiries to enter the class I said why the heck not and entered. Nearly four years later, today I got a check in the mail for a small sum compensating me for "wrongdoing" on the company's part, despite the fact that is was a settlement and not a conviction. My check was for 13.3% of my loss. Better than nothing I suppose. I'm not sure of the success rate of these lawsuits but I'm 1 for 1 in my attempts. Anyone else have class action lawsuit stories?
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