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Some investors made a wrong bet and trying to save face in front of their clients - spending even more money of those clients on lawsuits
by szundi 2y ago
Some investors made a wrong bet and trying to save face in front of their clients - spending even more money of those clients on lawsuits
- Almondsetat 2y agoIndividual gains, collectivized losses
- robertlagrant 2y agoNo, everyone got paid who was working there. But if it'd worked, the profits would've been taxed. As it is, the losses are kept private.
- coliveira 2y agoLosses are always public, these investors will use the loss against gains and therefore will pay less taxes, reducing the amount of government revenue.
- lupusreal 2y agoCollectivized or public losses come into play when the government bails out failing companies so that shareholders don't get hosed for a bad investment. Shareholders getting hosed is the opposite of that; private loses.
- robertlagrant 2y agoYes, the government doesn't get to take your money if you made a loss. That's not the same as what you're implying. The investors lost.
- bradleyjg 2y agoNope, this isn’t being driven by any shareholders. The lawyers want a big payday and found a client of convenience. If they win they’ll ask the count for a percentage of the value of the judgment using an innumerate formula for value.
- skeeter2020 2y agothat's not how lawyers get paid, outside of the ones advertise on TV. They bill massive hours that gets paid off the top, and some of it even if they lose.
- bradleyjg 2y agoNot in this kind of case.
- miohtama 2y agoIn the US of A, in the land of free and brave, it's a crime if the stock price does not go up. Probably legal fees are very minor compared to losses and it would be bad fiduciary duty not to sue if there is even 1% chance to win by a miracle.