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  • 1 Post By RMDNC

Class-action investor lawsuit: any info?

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  1. #1

    Join Date
    Jul 2011
    Posts
    713

    Class-action investor lawsuit: any info?

    I bought some shares of USA small-cap health company, EVH. A half-year later the company bought out some competitor and shares dropped from $22 to $7. Now some folks claim that EVH promised not to buy another such company so investors claim fraud, or the like.
    Now i get a notice that a lawsuit has been brought and i could join the claim vs EVH.

    Frankly i avoid lawyers (don't we all!) but maybe i can retrieve some of my losses; would be nice.

    Any knowledge of these 'American' things on this board and if so, would it be worth my while to contact the law firm, etc? Thanks for any input.

    See here , if interested further...https://www.glancylaw.com/cases-appl...nt-health-inc/


  2. #2

    Join Date
    Mar 2010
    Posts
    5,309

    I have done it a couple of times.
    I don't know what's the going rate for your while, but it's a great learning experience.
    Make sure to check your mail box regularly because the cheque has an expiration date.
    They will send you a new one though , if necessary.


  3. #3

    Join Date
    Jun 2016
    Posts
    661
    Quote Originally Posted by jobin
    I bought some shares of USA small-cap health company, EVH. A half-year later the company bought out some competitor and shares dropped from $22 to $7. Now some folks claim that EVH promised not to buy another such company so investors claim fraud, or the like.
    Now i get a notice that a lawsuit has been brought and i could join the claim vs EVH.

    Frankly i avoid lawyers (don't we all!) but maybe i can retrieve some of my losses; would be nice.

    Any knowledge of these 'American' things on this board and if so, would it be worth my while to contact the law firm, etc? Thanks for any input.

    See here , if interested further...https://www.glancylaw.com/cases-appl...nt-health-inc/
    There is an entire industry of lawyers who focus on such cases. Ambulance chasing for the investment market. Fill out the forms and submit them. You will get very very little back though.

    BTW be sure that the info you input if it is online goes to an ecrypted server. You will be asked for ID information and you want it to be adequately protected. I expericed one case where the lawyers outsourced the process to a firm that offered no encryption.
    traineeinvestor likes this.

  4. #4

    Join Date
    Dec 2018
    Posts
    587

    I was asked to sign up for one of these in relation to a defunct disability insurance policy my former employer had taken out on me. Given the small amount I would, most likely, have recovered from the premium I never paid (my employer did) and the requirement to disclose a lot of personal information (see RMDNC's post above) and the possibility of needing advice on whether any payment needed to be put on my US tax return, I decided it was more trouble than it was worth.


  5. #5

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,185

    You might get a percent or two at most. They will likely email you, you fill out the form then get a check later on. If you lost several thousand USD, you might get $20 back. Nothing special.