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settlement class action

  • Last Updated:
  • Dec 19th, 2020 5:38 pm
[OP]
Member
May 4, 2020
301 posts
63 upvotes
Toronto, On

settlement class action

Hi
I bought some stocks and some went down considerably and other went bankrupts. I am getting mails from my broker asking me to fill forms (settlement class action) etc against these companies. My questions, does that really work if I fill these forms? Would they refund me any money? All these stocks are American by the way? Did you have similar experience? Thank you very much.
2 replies
Deal Addict
Feb 26, 2017
2451 posts
3329 upvotes
lwlwlwlw wrote: Hi
I bought some stocks and some went down considerably and other went bankrupts. I am getting mails from my broker asking me to fill forms (settlement class action) etc against these companies. My questions, does that really work if I fill these forms? Would they refund me any money? All these stocks are American by the way? Did you have similar experience? Thank you very much.
Yep you can get money from the class actions and I got I think about 600 from the HCG one. My biggest loss is nothing to be proud of ;) but you might as well see if you can get anything. Make sure you fit the criteria and send your documentation. Don't expect it to be quick, It took around 2 years I think for me with HCG.
Deal Addict
Jul 30, 2012
1443 posts
1907 upvotes
lwlwlwlw wrote: Hi
I bought some stocks and some went down considerably and other went bankrupts. I am getting mails from my broker asking me to fill forms (settlement class action) etc against these companies. My questions, does that really work if I fill these forms? Would they refund me any money? All these stocks are American by the way? Did you have similar experience? Thank you very much.
Many class action payouts are dependent on how many (ex) equity investors join. For many, you will literally receive in the range of 0.01C>0.10C per $1 invested (if lucky). Insolvent companies of course will provide the least. If you don't care about your time to compile docs and submissions, go for it. Don't expect to recoup much on investments that have gone bad, lol.

Class actions are mostly a way for law firms to get rich (not investors) and they reap most of any rewards to be had. You'll find most Class actions are initiated by law firms looking to pick the bones of broken companies.

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