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Has anyone given thought to petitioning these slime-ball law firms to become the lead plaintiff in the class action? While there maybe a number of firms sending press releases about a possible class action claim, only one firm gets the chance to represent the lead plaintiff on behalf of the class. All these firms are doing is casting a line in the water to see if they catch any fish.
The biggest way to ensure that this lawsuit goes nowhere is to petition to be the lead plaintiff and then direct the litigation in a wrong direction. Any thoughts?
The biggest way to ensure that this lawsuit goes nowhere is to petition to be the lead plaintiff and then direct the litigation in a wrong direction. Any thoughts?
Haha, that occurred to me, too. I guess it's too bad I didn't lose 200k! I'm not sure if the 200k can be paper losses or if it needs to be realized losses.
mitch672
Active Member
Yes, apply to be the lead plaintiff, then when questioned, "yes your honor, I have no problem with TSLA or Tesla Motors, what I do have a problem with is these frivolous lawsuits wasting the courts and your honors time. Please dismiss the case, and ban this law firm from refilling"
I thought the lead plantiff was Robert Rahimi. http://www.law360.com/articles/488064/tesla-fires-burned-6-5b-in-stock-value-investor-says
And the $200k thing is silly. So you lose $200k between two arbitrary chosen dates. What if he's made back $400k since the end date? Losing money when buying and selling stock (which is what it looked like he did several times weekly, more like a "day trader") is just the name of the game. If every Joe Schmoe went out and sued manufacturers just because their daily trades didn't go as planned....utterly absurd.
And the $200k thing is silly. So you lose $200k between two arbitrary chosen dates. What if he's made back $400k since the end date? Losing money when buying and selling stock (which is what it looked like he did several times weekly, more like a "day trader") is just the name of the game. If every Joe Schmoe went out and sued manufacturers just because their daily trades didn't go as planned....utterly absurd.
The lead plantiff is Robert Rahimi and the case is Rahimi v. Tesla Motors, Inc. et al. Dr. Rahimi is a poker player. A true gambler. He's listed as "6 Bob Rahimi $ 97,375". A true gambler claiming losses in a court case is somewhat funny.
So he likes to take bets. Well this is one bet that he's sure to lose. Idiot. Not a very smart poker player either I presume.
sub
Active Member
palmer_md
Member
yep, its going to be a hard case to win when the share price is going to be well over the price he paid for the shares just a few months ago.
This paper reads like a joke.
http://securities.stanford.edu/1051/TSLA00_01/2013118_f01c_13CV05216.pdf
bonnie
I play a nice person on twitter.
Singing... Clowns to left, Jokers to the right, Here I am, stuck in he middle with you
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bonnie
I play a nice person on twitter.
Curiously, this run up doesn't provide cover. They might argue it actually exacerbates the loss. The class will be composed of people who bought high and sold low. Pomerantz will probably assert that this low price was induced by management somehow, and the loss realized by people who sold during the unnaturally low period was a direct result of deliberate manipulation of the stock price. When they stopped manipulating, see what happened? The price returned to its pre-damage level.
When you have a story you believe, all facts can be fit into that story if you try hard enough. That's why dreams can be so weird.
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