I offered to split it with my wife ........ she is thrilled!
She..is...gonna buy you a banjo...RIGHT..?!.. ;0)
Edited by - STUD figmo Al on 01/30/2023 15:00:42
quote:
Originally posted by STUDShe..is...gonna buy you a banjo...RIGHT..?!.. ;0)
Yes ....... but I am not sure what you can buy for $.02.
The check was for $.04. Honestly I am trying to understand sending someone a check for $.04 when it cost $.55 (or less for bulk mail) to send it.
I'm also curious how much the vultures that brought the class action suit got for their fee ........ guessing more than $.04.
Class actions are mostly to get a judge to disallow multiple suits from a companies wrongdoing. Once you agreed to the .04, you gave up the chance at getting any real money.
Judges often rule no more litigation after the class action which has always seemed unethical in the least!
Now if your the formal litigant, then you get paid big cash.
Sending the 4 cents keeps the books balanced. Of course the mailing costs come out of the settlement, and you may be sure the lawyers did well. The main justification is to whack TDA upside the head absent criminal proceedings. If the lawyers didn’t get paid, nthing would happen. I’ve never been sure of the utility of such settlements, although sometimes class members do get serious compensation.
quote:
Originally posted by BanjoLinkquote:
Originally posted by STUDShe..is...gonna buy you a banjo...RIGHT..?!.. ;0)
Yes ....... but I am not sure what you can buy for $.02.
The check was for $.04. Honestly I am trying to understand sending someone a check for $.04 when it cost $.55 (or less for bulk mail) to send it.
I'm also curious how much the vultures that brought the class action suit got for their fee ........ guessing more than $.04.
Well....
If..you...
Pool yer resorces........... ;0)
And as for buying a banjo, back when these ....
... were originally on the market $.04 might have been almost enough.... at the very least a significant down payment, I figure. https://en.wikipedia.org/wiki/Banjo_(chocolate_bar)
Edited by - Owen on 01/30/2023 16:03:20
quote:
Originally posted by NotABanjoYodaClass actions are mostly to get a judge to disallow multiple suits from a companies wrongdoing. Once you agreed to the .04, you gave up the chance at getting any real money.
Judges often rule no more litigation after the class action which has always seemed unethical in the least!
Now if your the formal litigant, then you get paid big cash.
In most of these cases I am not sure that the companies did any wrong doing, but rather it is easier and lss expensive to settle than go to court. I am sure that there are big law firms that search everything to do with large corporate transactions trying to find the least little thing that they can create a class action suit for. However, unless you own hundreds of thousands of shares, I don't think anyone gets much of a settlement. All of the real money goes to the lawyers. I have been in dozens of these and normally just throw them in the trash can and never apply for the settlement.
When you agree to a settlement, you don't know how much it is going to be, but you can be assured that it is not worth not taking it and trying to settle for a larger amount. Of course if I had done that here and been awarded $.06, I would have been obligated to pay my lawyer $.02.
quote:
Originally posted by Bill RogersSending the 4 cents keeps the books balanced. Of course the mailing costs come out of the settlement, and you may be sure the lawyers did well. The main justification is to whack TDA upside the head absent criminal proceedings. If the lawyers didn’t get paid, nthing would happen. I’ve never been sure of the utility of such settlements, although sometimes class members do get serious compensation.
Bill, I am not sure which class members would get anything significant unless they were an institutional stock owner, like say Berkshire Hathaway, and owned millions of shares. And although they may get millions of dollars, it probably would not make a splash in their portfolio.
quote:
Originally posted by BanjoLinkquote:
Originally posted by NotABanjoYodaClass actions are mostly to get a judge to disallow multiple suits from a companies wrongdoing. Once you agreed to the .04, you gave up the chance at getting any real money.
Judges often rule no more litigation after the class action which has always seemed unethical in the least!
Now if your the formal litigant, then you get paid big cash.In most of these cases I am not sure that the companies did any wrong doing, but rather it is easier and lss expensive to settle than go to court. I am sure that there are big law firms that search everything to do with large corporate transactions trying to find the least little thing that they can create a class action suit for. However, unless you own hundreds of thousands of shares, I don't think anyone gets much of a settlement. All of the real money goes to the lawyers. I have been in dozens of these and normally just throw them in the trash can and never apply for the settlement.
When you agree to a settlement, you don't know how much it is going to be, but you can be assured that it is not worth not taking it and trying to settle for a larger amount. Of course if I had done that here and been awarded $.06, I would have been obligated to pay my lawyer $.02.
Exception: Our VW diesel Golf wagon. We got $17000 in the buyback for the "cheating diesel" scam. That payment went towards our Subaru.
A couple of years ago I got an income tax notice from the Province of Ontario stating that some entitlement had been raised by two cents. I'm rich!
quote:
Originally posted by Paul Rquote:
Originally posted by BanjoLinkquote:
Originally posted by NotABanjoYodaClass actions are mostly to get a judge to disallow multiple suits from a companies wrongdoing. Once you agreed to the .04, you gave up the chance at getting any real money.
Judges often rule no more litigation after the class action which has always seemed unethical in the least!
Now if your the formal litigant, then you get paid big cash.In most of these cases I am not sure that the companies did any wrong doing, but rather it is easier and lss expensive to settle than go to court. I am sure that there are big law firms that search everything to do with large corporate transactions trying to find the least little thing that they can create a class action suit for. However, unless you own hundreds of thousands of shares, I don't think anyone gets much of a settlement. All of the real money goes to the lawyers. I have been in dozens of these and normally just throw them in the trash can and never apply for the settlement.
When you agree to a settlement, you don't know how much it is going to be, but you can be assured that it is not worth not taking it and trying to settle for a larger amount. Of course if I had done that here and been awarded $.06, I would have been obligated to pay my lawyer $.02.
Exception: Our VW diesel Golf wagon. We got $17000 in the buyback for the "cheating diesel" scam. That payment went towards our Subaru.
A couple of years ago I got an income tax notice from the Province of Ontario stating that some entitlement had been raised by two cents. I'm rich!
Yes ..... that sort of class action suit, where there is tangible damage done to individuals who may have purchased something that was misrepresented or defective is quite different. In my case with Ameritrade, they may have done something technical like filed some paperwork a day late, or some silly violation like that.
That's .04 more than I got from my Ecoli hamburger suit several years ago. I couldn't even get enough to pay back for the box of hamburgers I had to toss out.
quote:
Originally posted by DC5That's .04 more than I got from my Ecoli hamburger suit several years ago. I couldn't even get enough to pay back for the box of hamburgers I had to toss out.
......... or the 1/4" rock that I chomped down in my can of Amy's vegetable soup. It didn't do any harm, but I did write them and email ........ no response!
quote:
Originally posted by BanjoLinkquote:
Originally posted by DC5That's .04 more than I got from my Ecoli hamburger suit several years ago. I couldn't even get enough to pay back for the box of hamburgers I had to toss out.
......... or the 1/4" rock that I chomped down in my can of Amy's vegetable soup. It didn't do any harm, but I did write them and email ........ no response!
I chomped down on a piece of broken glass in some Prego Spaghetti sauce. They sent me a coupon for a free jar, ignoring the fact that I was unemployed and spent money on the spaghetti and hamburg that was also in the meal. Never used the coupon, never bought Prego again.
