2/23 Class action suits are the best thing in the world. When I sent in
Iomega for a $50 rebate by sending in an original receipt, original
UPC label, and the application, I got a mail back saying that I did
not enclose the UPC label nor the original receipt. I was perplexed.
Then after a year, they sent me a mail saying "Class action suit--
a whole bunch of people didn't get what they were supposed to, and
if you were one of them, sign here, and we'll try to resolve this case"
Class action suits are good.
\_ Iomega is cheap, they thought they could get away... H AH AHA
\_ Do not sign anything without consulting your lawyers
\_ Say what? It's a $50 rebate on a $99 device. How much is
the consultation going to cost? Don't be stupid.
\_ May Iomega burn in hell. Iomega management made $11 million
in January by exercising their options and subsequently, the stock
tanked when management finally revealed bad news.
\_ That's against insider trading policy, isn't it? -- yuen
\_ Not really. It's very difficult to prove especially
on something like earnings data which can be interpreted
in different ways (e.g. a company showing record profits
might see its stock fall if earnings were not as high
as "analysts' forecasts"). Management would get in
trouble though if they purchased shares of stock knowing
that the company was going to be taken over next week and
that the buyer's price/share was higher than what
they were paying for it. --wft |
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