yes while the lawyers get most of the money, these cases are extremely important to get corporate responsibility back to our market. people like Eddy Groves cannot just be allowed to lie continuously to the market, lose hundreds of millions of dollars of other peoples money, and continue on with a multi-million dollar salary and keep all the money he has ripped out of the company. unfortunately ABC will not recover while this suit is hanging over its head, but then by not replacing Groves the company does not have any credibility anyway. best thing they can do is get rid of him and settle this immediately, and admit they were seriously in breach of their disclosure requirements.
ABS Price at posting:
54.0¢ Sentiment: LT Sell Disclosure: Not Held