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I am a lawyer who used to practice in south Florida. Defending yourself in
federal court doesn't necessarily take a lot of time (a lot of what goes on is
lawyers throwing paper at one another) - but it does take a lot of money. I
was recently involved in a dispute with one of the law firms involved in the
Omega case (I was objecting - as a member of the class - to the amount of
attorney's fees they were claiming after a settlement of another securities
case) - and the one thing that stuck out was how much paper these lawyers
generated. FWIW - I think a big issue will be whether Omega has any insurance
coverage which covers the claims here and all or part of its defense costs
(defense costs in the most minor securities cases probably run into high 5 or
low 6 figures). Robyn
C Lober wrote:
> Regardless of the merits of the case, the worry I have is that it will
> require Omega to devote precious resources to defending themselves, rather
> than on product development, etc..
>
> Does anyone else have this concern, or is it just a small matter?
>
> Chris Lober
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