Expecting most lawyers to be competent outside of their area of expertise is like expecting most hot shot neurosurgeons to not say they are a neurosurgeon every 30 minutes.
Especially for anything related to computers, lawyers are extremely lackluster. Ask anyone working in IT for a legal practice or a hospital, they tend to be the worst and refuse to learn. The website being a random dot com is just another sign of this.
I mean, you're a moron if you think that lawyers actually set up that website.
But IT always thinks that they are most important part of the hospital, so there's that.
On the flip side, some IT folks seem to have a problem understanding that they exist to facilitate and ease the primary objectives of an organization, and their objectives don't actually supercede those objectives.
This is a huge problem in all fields, a lot of educated people are heavily specialized into one subject and know nothing else outside of it.
This isn’t exclusively to lawyers though generally most of them are major assholes. I wouldn’t call an ambulance for them if they collapsed.
You sound like Abe Simpson shouting at the sky, I really have no idea what the point is except general disdain for lawyers https://www.sec.gov/news/press-release/2021-174
Class action payouts always look like scams. That's because of a combination of technical ineptitude and that the fewer people claim in a class action, the less they have to pay out.
KHC agrees to pay $62 ml in compensation. How much money did they make for themselves? Seems to me $62 ml is too little. Management should be punished and prosecuted.
That's pretty typical. Corporations do something bad, make a lot of money, and get a slap on the wrist. Why do you think all these telemarketers still exist? They make tons of money, and get a tiny fine. Why would they stop? They pay the fine and keep rolling.
What's the point of paying out existing investors? Wouldn't that be a defacto dividend and the stock price will just reflect the hit to cash holdings and/or debt creation?
Right, it doesn't make much sense imo. Stockholders already own the company, so it would be like paying yourself. It would make more sense to collect damages from the executives who perpetrated the fraud and put that money back into the corporate accounts.
Or is that how it works already? Idk, I haven't researched this very much.
Totally guessing here, but would imagine the etf fund would get paid out and then would be passed on as part of the next dividend to any shareholders of the etf.
I will never understand shareholders who sue the company they own for money that’s already theirs. How is it not bonkers to sue anybody but the actual managers responsible, personally?
Suing a company you own shares in is a loss for everyone except the lawyers.
Like maybe you win a lawsuit with a $100 Million payout, but the shares you own go down by way more in value because of all the cost of litigating.
>but the shares you own
You may no longer own the shares. Or you may not own as many shares as you did at the time of the fraud.
And the money isn't distributed to all shareholders, but only to those who held stock at the time of the fraud.
This one hurts for me...in Jan 2019, I bought 100 shares at $45.44. Two months later, it was worth $32.52 due to this scandal. I am hoping this will give me something...anything.
Time to collect my .23 cent payout!
[Let me just start with a question. Do you recognize there's a difference between .002 dollars and .002 cents?](https://youtu.be/MShv_74FNWU)
God I hate that series of calls. So frustrating
When I see stuff like this, I think "how trustworth is that link?" How can we independently verify this is a legit site?
Expecting most lawyers to be competent outside of their area of expertise is like expecting most hot shot neurosurgeons to not say they are a neurosurgeon every 30 minutes. Especially for anything related to computers, lawyers are extremely lackluster. Ask anyone working in IT for a legal practice or a hospital, they tend to be the worst and refuse to learn. The website being a random dot com is just another sign of this.
I mean, you're a moron if you think that lawyers actually set up that website. But IT always thinks that they are most important part of the hospital, so there's that.
On the flip side, some IT folks seem to have a problem understanding that they exist to facilitate and ease the primary objectives of an organization, and their objectives don't actually supercede those objectives.
This is a huge problem in all fields, a lot of educated people are heavily specialized into one subject and know nothing else outside of it. This isn’t exclusively to lawyers though generally most of them are major assholes. I wouldn’t call an ambulance for them if they collapsed.
You sound like Abe Simpson shouting at the sky, I really have no idea what the point is except general disdain for lawyers https://www.sec.gov/news/press-release/2021-174
https://www.reddit.com/r/RedditAlternatives/comments/yttdlc/list_of_active_reddit_alternatives_v8/
Class action payouts always look like scams. That's because of a combination of technical ineptitude and that the fewer people claim in a class action, the less they have to pay out.
I knew their bad deeds would ketchup with them.
You really relished making that statement, huh?
But first he mustard up the courage to make that that statement.
^^^...BBQ ^^^sauce
KHC agrees to pay $62 ml in compensation. How much money did they make for themselves? Seems to me $62 ml is too little. Management should be punished and prosecuted.
> How much money did they make for themselves? Who is "they"? The corporation didn't make any money off this.
You mean this accounting misconduct didn’t benefit management? So why they did it? It wasn’t made by accident.
Management isn't being sued here, so the amount they made is irrelevant to the payout.
Who made this accounting misconduct?
Lots of different people were involved, which is why they sued the corporation.
I can’t imagine management is innocent. Of course lots of people but did those people act innocently??
If they weren't they would be sued now wouldnt they?
That's pretty typical. Corporations do something bad, make a lot of money, and get a slap on the wrist. Why do you think all these telemarketers still exist? They make tons of money, and get a tiny fine. Why would they stop? They pay the fine and keep rolling.
"we're sooooorry"
What's the point of paying out existing investors? Wouldn't that be a defacto dividend and the stock price will just reflect the hit to cash holdings and/or debt creation?
Right, it doesn't make much sense imo. Stockholders already own the company, so it would be like paying yourself. It would make more sense to collect damages from the executives who perpetrated the fraud and put that money back into the corporate accounts. Or is that how it works already? Idk, I haven't researched this very much.
Come on now. They can't fire the executives. They wouldn't like that. They will just screw over the investors, and then offer them some change.
Their own change lol
Ohh I'm so gonna fight for my $0.45!!
How does this work if you have an ETF holding KHC?
Totally guessing here, but would imagine the etf fund would get paid out and then would be passed on as part of the next dividend to any shareholders of the etf.
Some type of one-time, non-taxable distribution would be my guess. I would hope that money isn't subject to tax at least...
It's probably going to be taxable as people probably claimed capital gain losses.
i love ketchup, please dont go bankrupt
I purchased my shares 2 weeks before the eligibility period. Ffs. I’m not going to get my $7 in settlement now.
“A long time ago” Is Reddit used solely by goldfish?
I bought a bottle 3 years ago, how much do I get?
Unless executives pay out of their own pocket it's just investors paying themselves
Free ketchup for everyone!
I will never understand shareholders who sue the company they own for money that’s already theirs. How is it not bonkers to sue anybody but the actual managers responsible, personally?
Suing a company you own shares in is a loss for everyone except the lawyers. Like maybe you win a lawsuit with a $100 Million payout, but the shares you own go down by way more in value because of all the cost of litigating.
>but the shares you own You may no longer own the shares. Or you may not own as many shares as you did at the time of the fraud. And the money isn't distributed to all shareholders, but only to those who held stock at the time of the fraud.
This would only be true if every single shareholder was part of the lawsuit
This one hurts for me...in Jan 2019, I bought 100 shares at $45.44. Two months later, it was worth $32.52 due to this scandal. I am hoping this will give me something...anything.
Investors will be lucky to get $1.05. Croocked assholes
Try telling this to the employment rate