Posts: 1,357
Threads: 589
Joined: Feb 2012
Reputation:
292
Your forgot dumb and stupid (most of your posts and all your legal advice).
https://www.youtube.com/watch?v=QDvQ77JP8nw
"And maybe someday we will find , that it wasn't really wasted time"
Posts: 6,851
Threads: 697
Joined: Dec 2011
Reputation:
441
The whole post is fraut with confusion and overstatements as well as omissions. For instance, someone who sold their shares, especially recently, would also be a party to class action.
If someone has the chance of collecting "substantial sums" that chance must be near zero if he decided not to dissent. That does not "bode well for success (which is not defined).
Exxon shares could "easily" drop $10, but they might not, and just because you don't like this deal it does not make Exxon a "poor long term" investment. Exxon has an excellent long-term history of dividend payments andd performance. They have taken a recent hit along with many other E&P companies, but are rated by some (S&P, Morningstar) as a hold and another as a Buy, as well as others who rate them a Sell. Very mixed concensus, but hardly a unanimous "poor".
And not "all" shareholders are "getting nailed here". A good number of investors bought IOC in the $20s, $30s and even low $40s. My guess is they are at least happy.
Once again two many empty, oversimplified and baselesss points make for unreliable and unuseful "advice".
Posts: 8,568
Threads: 1,342
Joined: Dec 2011
Reputation:
380
Exxon is involved in a lawsuit now . That same firm has agreed to take on our case . A class action law suit to include those that have not agreed to the current deal . If you voted no or did not vote at all you can participate . Those that voted yes agreed to being harmed in the deal and Exxon will kick them out with a court challenge. If you dissented and accept the Exxon offer you will also be removed by Exxon with a court challenge .
The amount of harm is estimated at $80 per share by one source or $3 Billion in harm .
The law firm listened to the applicant , did there own DD and agreed to take the case on a contingency basis . The firm will collect 1/3rd of any proceeds . These things take time these class action law suits . Expect 1 1/2 to 2 years as an estimate .
These is not like the Exxon Valdez where there was environmental damage, This law suit simply looks at what was promised over and over again and what was delivered .
Yes Exxon had incidents of ownership in the MIC and is fully on the hook for whatever damages are awarded per the lawyers . A US law suit.
Posts: 413
Threads: 49
Joined: Mar 2014
Reputation:
36
Any idea what time period is being considered? Would you have to own at the merger close to be included? How long would you have to have held the shares?
Posts: 6,851
Threads: 697
Joined: Dec 2011
Reputation:
441
Most class action suits state that if you were a shareholder between x and y dates, you are eligible to participate. I doubt you will have had to own shares right up until the point when IOC shares were swapped out.
Posts: 8,568
Threads: 1,342
Joined: Dec 2011
Reputation:
380
The lawyer states if you accepted the Exxon deal you accepted the harm. He states Exxon will ask the courts to remove your participation. Those that sold before the deal and were harmed could possibly be included is my non legal opinion.
Posts: 6,851
Threads: 697
Joined: Dec 2011
Reputation:
441
Not so. If one sold any time during the class period you can prove damages and participate in class action lawsuit. You constantly focus on people holding through the deal. As stated many times I sold prior to deal closing. Standard class action law applies.
