Political Quotes

“Every 4 working days a securities class action law suit is filed by one law firm. If you add the securities class action law suits filed by the other specialized law firms practicing in this field, a case is filed every day. Many times the real victim is a company whose only crime is stock volatility. Many times the losers are the investors because these law suits take money out of the companies' R&D budgets and give it to class action lawyers. A suspiciously high percentage of these cases settle. Often, the settlements are less than the companies' legal bills incurred to defend the law suit. This is a strong indication that the cases lack merit. The list of companies that have been sued reads like the who's who of high growth, high technology, and biotechnology companies. They are the backbone of our economy and the foundation of our ability to compete internationally in a changing world. It is a cookie cutter fact pattern in an environment of first-to-file races to the courthouse. It is a 'shoot, aim, ready' approach to class action litigation where law suits are filed within hours of news that a company missed an earnings prediction.”