Did Hedgies File a Fake Lawsuit Right Before Trial?

[Parsad]

The Shareholder Foundation Inc., which is a class action lawsuit firm (if you can call it that...more like fly by night outfit) that files against corporations, has filed a lawsuit on behalf of "an investor" against Fairfax Financial in regards to the use of finite reinsurance and restatement of filings going back to 2003. 

 

Interesting how this suit comes up now...eight years later...just before we head to trial against some of the largest and most powerful hedge funds in the world.  Cheers!

 

http://shareholdersfoundation.com/case/fairfax-financial-holdings-limited-usa-hit-investor-class-action-lawsuit-over-alleged-securitie

[Liberty]

There are lots of vultures like that. They seem to file these things by the boatload and hope that a fraction of a percent will stick, kind of like spam emails.

 

They've also filed against EBIX.

 

http://pr-usa.net/index.php?option=com_content&task=view&id=830993&Itemid=32

[JEast]

Most file right after an earnings miss, so this is intriguing that they are filing right before an earnings release.  On the other hand, not really as nothing is surprising at this juncture in the saga.

 

 

Cheers

JEast

[beerbaron]

Did any of those filings ever sticked? From my experience, courts are very carefull to start putting their nose into business administrations.

 

BeerBaron

[JEast]

Two (2) new vulture lawsuits filed in follow the leader law practice.  This is now four (4) by my count in the last week and reminds me of during the dot com bubble when these were filed every quarter after some tech firm missed earnings.

 

I have read that lawyers are getting squeezed as supply exceeds demand so I guess they need to find income from somewhere.

 

 

Cheers

JEast