@Revelate wrote:How is a denial damaging anyway?
I lost thousands of dollars in the stock market on one public company which was nailed for fraud and deliberately misstating earnings among other things, and I just received a class action settlement check, literally today, for $94.17.
But I bet the attorneys were a-ok, probably taking 2/3 of what was won.
@Anonymous wrote:Although we know investing is a gamble, People should have at least got the amount they lost back since the Company was involved in fraudulent and questionable activities. This is one aspect where class action lawsuits are fruitless for the people actually affected.
It's one of the big reasons why diversification is important. Yeah I lost something like 3K on it and I entered and exited during the time period covered by the class action and got basically nothing back from it but overall I'm way up over the period.
They're sitting at literally 10% of their late 2013 peak and to be fair the entire market segment they were in flopped and as such my investment thesis was either wrong or just 20 years too early or whatever in addition to their lying, but getting back my full losses isn't realistic regardless.
