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> Date: Thu, 29 Jan 1998 18:44:57 +0000
> From: "John F. Berentson <jfb.nyc@xxxxxxxxxxxxxxxx>" <jfb.nyc@xxxxxxxxxxxxxxxx>
> To: omega-list@xxxxxxxxxx
> Subject: Re: Class Action Filed Against Omega Research
<some snipping>
> If you check it out, I am sure you will find that the
> plaintiff's law firm has a history of this kind of lawsuit.
> JFB
> Shaven Heads Trading
> NYC
I'm not defending lawyers here, especially the contingency-fee ilk, but let's
suppose you really felt you had a meritous claim in a situation like this.
Wouldn't you want to hire a law firm who had expertise in an area? Why would
you want to train a lawyer to research a topic if you could get someone who
could cite precedent from memory? Nobody has any problem being referred to
medical specialists.
Personally, I have never brought suit against a company for securities
violations but do own several 1000 shares of some companies whose stock is no
longer traded because of some shady if not downright illegal activities going
on at the company. And I'm not saying that Omega did anything wrong. Just that
it's possible that what is really being presented here has actual merit.
It will be interesting to see if Omega turns around and sues the underwriters.
And I have yet to see Omega's response other than the patent, "We believe this
complaint has no merit, and will vigorously defend it," type of statement.
This was a thin market in Omega stock. While their product may be the benchmark
in trading software, this is really a small market. Don't think for a minute
that if it had any real market, that MSFT wouldn't buy it or build a competing
product. It is almost inevitable that this this stock would collapse. At their
IPO price it was a sure short. Sure to bring out disgruntled shareholders.
I hope this group watches the procedings.
"It's hard to make predictions, especially about the future."-Yogi Berra
Shawn Devlin
shawnd@xxxxxxxxxxxxx
Pigs get fat, Hogs get slaughtered!
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