Vanessa VS The Dot Com Giants

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Dec 29, 2010 12:23 pm

"Days after her 22nd birthday, college senior Vanessa Simmonds last month put her name to 55 lawsuits against the nation's leading investment banks.

She is the plaintiff in an audacious new effort to recoup what her attorneys call the ill-gotten gains pocketed by insiders and underwriters in many dot-com-era stock offerings."

 

Link to original article dated 11-4-2007. This case, quietly rages on, with little/no media coverage...

http://seattletimes.nwsource.com/html/businesstechnology/2003992306_sundaybuzz04.html

Dec 29, 2010 12:28 pm

The article goes on to describe what these "reputable firms" were up to, in manipulating prices of IPO transactions. Turns out Vanessa's father is a high priced class action attorney, and she filed this lawsuit even though her ownership of these stocks were minimal, and she was a minor at the time.

Doing some Google searches on this, indicates that massive resources and legal expenses are being spent by firms defending themselves in this case. Very high priced attorneys have had a nice big meal ticket from this case alone, have pretty much not had to handle much in the way of case work of any other projects.

Our wonderful media, it never ceases to amaze me how bought and paid for they are. This case is a big deal, and me, I'd never heard of this case until yesterday when I was doing a research project.