fox@fury
Do they really speak for me? (re: marchFIRST class action suit)
Wednesday, Nov 01, 2000
If someone files a class-action suit on my behalf, doesn't it matter that I don't agree with it?

Okay, so even though I haven't worked for marchFIRST for over a year and a half, I bought some of their stock about three months ago, before it took a dive.

Now an ambulance-chasing company by the name of Stull, Stull & Brody (no website, just an AOL email address) has filed a class action lawsuit on behalf of "all persons who purchased the securities of marchFIRST, Inc. between July 25, 2000, and October 23, 2000."

Doesn't it matter that I'm one of those people and I don't want a class-action suit filed? That I actually believe that investing in the stock market, especially in the Internet sector, is an inherently risky practice? that "cautionary notes regarding forward-looking statements" are just that, and SEC filings and press conference calls shouldn't be taken as assurances of future success?

My point is, who asked Stull & Co to sue? I didn't. If I ask them to stop, will they? Their press release says they still don't have a lead plaintiff. Does this mean they're just begging a shareholder to 'represent the rest of us' so they can get a big fat percentage of a possible award?

It's bad enough when people sue people over things they should know better, but it's one step farther to hell when a company can sue on behalf of others who don't even want them to...

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