Quote:
Originally Posted by Flash68
I've found that usually the people who are quick to tell you to file a lawsuit are the ones who have zero experience on either side of one.
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A truer word was never spoken!
About 3 years ago I lost half a million in a start up company due to idiots at the helm.... long and short of it is, I took everything I had to our attorneys -- and 50 grand later -- they thought I had a case to sue the board of directors.... a quarter million dollars later thru mandatory mediation -- I got a quarter million dollar settlement. So that all took at least a year and a half - the board had Directors and Officers insurance so you're really suing the insurance company and they have endless amounts to defend.... and had I not settled (took 9 hours in mediation) I probably would have spent another quarter million in trial. Since it wasn't fraudulent - there was no penalty - so the most I could get was my original investment back -- and MAYBE legal costs but probably not... so at some point it's "what's the point"? I wanted to have a judgement against the officers so that if they were to be asked to sit on another board - they'd have to disclose that they'd be sued and had a judgement. So I was willing to spend the money just to piss them off. But I'm mean like that!
So that "just sue them" talk is mostly just that -- big talk.