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View Full Version : US SUPREME COURT Decision Blocks Class-Action Lawsuits by stockholders


RobertoOrtiz
03-22-2006, 03:22 PM
Quote:

" An 8-0 Supreme Court decision blocks state class-action lawsuits by stockholders who say they were tricked into keeping declining shares."

>>LINK<< (http://news.yahoo.com/s/ap/20060321/ap_on_go_su_co/scotus_investor_lawsuits_summary_box;_ylt=Agvt6UMBx_WVNhT1Q8hlR0xMEP0E;_ylu=X3oDMTBjMHVqMTQ4BHNlYwN5bnN1YmNhdA)

_R

Roberto here: Why this is on topic?
Pixar shares rise ~ lawfirm sues Pixar! (http://forums.cgsociety.org/showthread.php?t=287893&highlight=pixar+lawsuit)

richcz3
03-22-2006, 05:42 PM
This is very bad news and a scandal in itself. This sets a bad precident for more problems in the new market.

I believe this decision stems from financial analysts who were in the back pockets of companies that went bust after the .com era melt down. These analysts insisted that investors hold on to their stock despite the fact the market was failing. The worst offenders have since been tried and found gulity which then resulted in lawsuits being filed against Merrill Lynch and other investment advisors.

js33
03-22-2006, 06:51 PM
This is just more Bush agenda protect business and screw everyone else especially the little guy and tax payers.

All this will do is allow criminally run companies, like Enron, to string people along with no penalties when their company goes bankrupt after it was found out they were lying about earnings for years.

Damn, I hope the Democrats or anybody but Repuplicans gets the majority and overturns or rollsback all the very bad laws Bush and his cronies are screwing the country with.

mrloco
03-22-2006, 07:08 PM
no politics guys *blows bullhorn*

BillSpradlin
03-22-2006, 07:10 PM
It wouldn't have been an 8-0 decision if it was a "Bush" thing. Such statements just show complete ignorance and political agendas should be left out from the discussion of these boards.

nvvm
03-22-2006, 07:18 PM
This is just more Bush agenda protect business and screw everyone else especially the little guy and tax payers.

All this will do is allow criminally run companies, like Enron, to string people along with no penalties when their company goes bankrupt after it was found out they were lying about earnings for years.

Damn, I hope the Democrats or anybody but Repuplicans gets the majority and overturns or rollsback all the very bad laws Bush and his cronies are screwing the country with.I agree, it's exactly as you say, sad but true and people are so blind to it too. Or maybe benefiting and turning the other way.

cyartist
03-22-2006, 07:21 PM
Time to run to the hills we have a government run by coporations. Welcome to the Matrix

js33
03-22-2006, 07:43 PM
It wouldn't have been an 8-0 decision if it was a "Bush" thing. Such statements just show complete ignorance and political agendas should be left out from the discussion of these boards.

So you are saying if it was something The Bush administration wanted the democratic judges would have actually voted against it? Perhaps it is you who are ignorant of the way things work. Democrats and Republicans will both side with business over the taxpayer or little guy every time. It doesn't matter if they are in Congress or on the Supreme court. All these wankers care about is getting reelected so they will take lobbyist money and do what ever they want so they can stay in office.

mummey
03-22-2006, 07:47 PM
"This thread is goin down faster than my ex at a frat party." ;)

RobertoOrtiz
03-22-2006, 07:50 PM
Ok ill make it easy...

If you invoke "the Shrub", you are in the realm of politics.

Lets get back on topic.

-R

Per-Anders
03-22-2006, 08:56 PM
ah no no no roberto, oh noes! it's all bush's fault! didn't you know that? apparently he's an omnipotent malignant being who the power,will and desire to direct every every single misjustice in the world today.

no seriously, the other day i was just happy as larry walking down the street when a vagrant attacked me, stole my burrito, run off, and as i chased him i tripped up over a broken paving slab and concussed my brain cell, then i had to drag my broken bleeding burritoless ass to the hospital where they accidentally misdiagnosed me, put me under and sawed off my legs. on the plus side i can now grow a beard, sit on street corners and claim i was a vietnam veteran... but it was all the fault of bush. it's a conspiracy theory, see... if bush hadn't taken all the money for his blatant oil crusade then the homeless shelter would have had enough food to feed the vagrant who wouldn't have tried to steal my burrito, and even if he had there would have been enough police, because of course the fundings gone form them too to stop the guy, also the council would have fixed up the street so i wouldn't have fallen over the broken paving slab because it wouldn't be there, and i personally would have been able to afford proper health insurance and to go to a decent hospital rather than having all my money taxed to kill people in faraway places which is the sole purpose of tax of course under bush so i'd still have my legs, in fact he actually set up thtis so that this exact chain of events would happen to me, the keneiving bastard. on the downside i'd have to find something else to whine about and justify all the faults and failings within my own personal life and sphere and use as a generalised "common enemy" to avoid having to take responsibility for my own part of this all and my own life's failings, and i'd have nothing at all to say on multinational, multiethnic, multibelief containing web forums that have absolutely no relation either in theme or content to politics or my own personal chip, but heck, i'll make you all suffer it anyway because i've got nothing better to do and absolutely nothing to actually say (but i feel the need to say something).

this has been a broadcast on the behalf of the sarcastic and apathetic to anyones personal political dogmas or beliefs thrust upon others society. thank you!

strangelife
03-22-2006, 08:59 PM
SOME might say these stockholders should have known the inherent risks in their investments. SOME might say industry has suffered enough financial damage from asbestos blowback. SOME might say that big tobacco shouldn't have to pay so much for a class action settlement. SOME might say that fast food patrons should trade their lawyers for a pair of running shoes and better eating habits. SOME people think everybody should be as smart, educated, responsible, and health-conscious as they are. SOME people are totally disconnected from the reality 99% of the world lives in.

js33
03-22-2006, 09:38 PM
SOME people are totally disconnected from the reality 99% of the world lives in.

Hmmm, you mean like Bush, Cheney and Rummy oh and Rove too. :twisted:

UrbanFuturistic
03-22-2006, 09:42 PM
We demand... a Shrubbery!

Sorry Roberto, but there was no way this thread wasn't going to get political. Ya win some, ya lose some.

DevilHacker
03-22-2006, 09:48 PM
News flash! Bush is not the Anti-Christ! There is no reason to bash bush! And quite frankly, it got old a long time ago. Bush is a president, and a damn good one. Letís keep him out of this.


This story involves dumb investors, who are too lazy to keep track of their own stock, and instead let someone else make all the decisions for them.
:sad:

Lets keep the politics out of this thread before it is closed down.

pearson
03-22-2006, 09:56 PM
Why are posts never deleted? After a warning to avoid politics, all subsequent posts that flaunt the mods should be removed. No need to close a thread because someone has an axe to grind.

js33
03-22-2006, 10:17 PM
News flash! Bush is not the Anti-Christ! There is no reason to bash bush! And quite frankly, it got old a long time ago. Bush is a president, and a damn good one. Letís keep him out of this.


This story involves dumb investors, who are too lazy to keep track of their own stock, and instead let someone else make all the decisions for them.
:sad:

I really can't believe you are that naive? Man you need to wake up and smell the coffee.

Anyway maybe you never heard of Enron, Worldcom, Adelphia, Heathsouth, Cedant, Rite Aid, Dynegy, etc... the list goes on. I'm not saying Bush is personally responsible for the fraud but his administration certainly looked the other way until it got out in the open.

Anyway the Bush administration has done more damage to this country in 5 years than all the other previous administrations put together. Some people just don't want to see what's really happening and are comfortably numb ignoring the real world while looking at pretty pictures on a website.

I will just leave it at that.