10-14-2021, 05:14 PM
Invested in a bad actor? You might be entitled to free money(!)
<!-- SC_OFF --><div class="md"><p>Earlier this year I saw something online somewhere about a class action suit against $INFN, and since I live by the motto "always join the settlement class" I submitted my contact info to the law firm filing the suit. I ended up agreeing to be a lead plaintiff.</p> <p>Infinera settled before going to trial, but the lawyers secured me an incentive award from the courts as part of the settlement, as compensation for being a lead plaintiff. I was honestly expecting to get like 15 bucks thrown my way if there was a settlement - over the years I've received several settlement awards, a few for $100 or $200 but the vast majority end up being <$25, and I've never been lead plaintiff before and didn't have any idea what to expect - so I was completely surprised when <strong>they sent me a $1,000 check!!</strong> </p> <p>I can't stress enough how little effort was required on my part. I signed an agreement to let them represent me, sent them redacted PDF copy of my brokerage statement to confirm I owned the shares during the settlement period, and sent maybe 3 one-sentence emails over a period of about 3 months authorizing them to take each of steps they advised taking on my behalf. I paid nothing out of pocket and here's the real kicker: I only held like $300 worth of $INFN, it was little more than a bet I placed for funsies. A surprise 3-bagger over just a 1 year holding period!</p> <p>Today I learned of another class action lawsuit against a company I placed a $200 bet on earlier this year ($APPH), which is currently down -66%. Even if I just recover some of the ~$130 lost it'd be worth it for how little effort is involved, but if I get asked to be lead plaintiff again and the incentive award is $1,000 again, or even $500 or $250, I'll be thrilled!</p> <p>I was represented by a firm that specializes in these type of shareholder class actions and has several cases going at a time. <a href="https://www.zlk.com/press">You can scroll through a list of them on their website to see if you hold shares in any companies in litigation.</a> A Google search indicates there are also several other law firms that do the same thing, but I don't have experience with any of the others, so I'm putting it on my to-do list to see what cases other firms are working on!</p> <p>I feel like I probably sound like a shill because I'm so enthusiastic but hopefully my Reddit history makes it clear that I'm just an ordinary investor who stumbled into free money(!!) this year and wanted to share the good news with the good people here.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/emikoala"> /u/emikoala </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/q821sx/invested_in_a_bad_actor_you_might_be_entitled_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/q821sx/invested_in_a_bad_actor_you_might_be_entitled_to/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Earlier this year I saw something online somewhere about a class action suit against $INFN, and since I live by the motto "always join the settlement class" I submitted my contact info to the law firm filing the suit. I ended up agreeing to be a lead plaintiff.</p> <p>Infinera settled before going to trial, but the lawyers secured me an incentive award from the courts as part of the settlement, as compensation for being a lead plaintiff. I was honestly expecting to get like 15 bucks thrown my way if there was a settlement - over the years I've received several settlement awards, a few for $100 or $200 but the vast majority end up being <$25, and I've never been lead plaintiff before and didn't have any idea what to expect - so I was completely surprised when <strong>they sent me a $1,000 check!!</strong> </p> <p>I can't stress enough how little effort was required on my part. I signed an agreement to let them represent me, sent them redacted PDF copy of my brokerage statement to confirm I owned the shares during the settlement period, and sent maybe 3 one-sentence emails over a period of about 3 months authorizing them to take each of steps they advised taking on my behalf. I paid nothing out of pocket and here's the real kicker: I only held like $300 worth of $INFN, it was little more than a bet I placed for funsies. A surprise 3-bagger over just a 1 year holding period!</p> <p>Today I learned of another class action lawsuit against a company I placed a $200 bet on earlier this year ($APPH), which is currently down -66%. Even if I just recover some of the ~$130 lost it'd be worth it for how little effort is involved, but if I get asked to be lead plaintiff again and the incentive award is $1,000 again, or even $500 or $250, I'll be thrilled!</p> <p>I was represented by a firm that specializes in these type of shareholder class actions and has several cases going at a time. <a href="https://www.zlk.com/press">You can scroll through a list of them on their website to see if you hold shares in any companies in litigation.</a> A Google search indicates there are also several other law firms that do the same thing, but I don't have experience with any of the others, so I'm putting it on my to-do list to see what cases other firms are working on!</p> <p>I feel like I probably sound like a shill because I'm so enthusiastic but hopefully my Reddit history makes it clear that I'm just an ordinary investor who stumbled into free money(!!) this year and wanted to share the good news with the good people here.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/emikoala"> /u/emikoala </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/q821sx/invested_in_a_bad_actor_you_might_be_entitled_to/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/q821sx/invested_in_a_bad_actor_you_might_be_entitled_to/">[comments]</a></span>Kind Regards R