Data:
{
"text": "It happens all the fucking time and it means nothing. I'd ignore them completely. \n\nIf you're ever bored google \"Matt Levine everything is securities fraud\". Levine writes a regular column for Bloomberg, and one of his ongoing themes is the ridiculous securities fraud lawsuits that pop up regularly.\n\nAs far as joining it's easy, you may or may not get like a penny at some point years down the line. So you'd just need to ask if sending them what they're asking for is worth that for you. But also, you'd need to ask if you want to participate in a thing that's objectively just a drain on market efficiency.\n\nFrom a fundamental standpoint, securities fraud lawsuits are irrational - the premise is that shareholders are suing the board for not properly representing risks. Usually it's some bullshit like \"The CEO got his dick sucked by his secretary, and is now being ousted, this caused the stock to go down, and we're alleging fraud because the risk of the CEO getting his dick sucked by a secretary was not adequately disclosed in filings\". The outcome is that lawyers get a settlement, maybe, but what happens is the company wastes money either defending against the lawsuit or settling. This costs shareholders money. So shareholders are suing for money from a company they own, because it lost money. \n\nThere are valid reasons to file a securities fraud suit, but 99% of them are pure horseshit.",
"label": "r/investing",
"dataType": "comment",
"communityName": "r/investing",
"datetime": "2024-05-23",
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}