"The law firms specializing in stock price suits - mostly west coast based, ain't they?"
Used to be... this sort of thing was common in Silicon Valley a few years back. Large share price declines by tech firms were very often followed by a lawsuit. CA has since implemented tort reform.
That's not to say that if you can actually show wrongdoing you can't sue and win... but now you need a real case. This kind of nusiance suit looking for an out of court settlement doesn't work here any more.
Well, if I read the article correctly, the accusation is that Blustein and the other exec named sold off about $45 million in stock before it dropped. So the implication is that they, and maybe others, inflated the price to dump stock at high prices before a downturn they may have seen coming.
Of course, I'm pretty sure that's a crock, but that's what it implied.
Both my local dealers have more bikes than floor space. One dealer had a couple of 02's some badly overpriced 03's, and 04's as well a couple of months ago. Strangely they never changed the old price tags, so it was interesting to see the price gouge for the 03's then a decrease in 04's and a further decrease in 05's.
I have a friend who paid almost 5K less for a 05 Ultraclassic than another buddy's 03.
Things are changing when you can buy a Supeglide for less than a Yamaha Warrior!
Beg to differ..... Can yos say Insider Trading....
The thing that raises red flags to me is that it is alleged that insiders sold stock before the announcement. Remember Martha Stewart. Although she was only convicted of lying to a Federal Agent. The principal of that case was the company's founder who did sell stock before a bad announcement. He was latter convicted if you remember. Perhaps you are right it is another frivy lawsuit. But I'll wait and see on this one. Keep in mind that this was major news when Harley announced the bad news.... i.e. it was unusual for Harley. Now if some insiders made some money off the deal the shyt will hit the fan oops GW is still in the White House ... maybe not. Is Blueistein a Democrat like Martha... If he is he better get a lawyer...Justice Depoartment Fast track... If not and he supported GW look for it to go the Enoron way. i.e. Justice Department slow track
I agree with you on most of what you said but I would suggest mutal funds as a better way to spread your risk... Real Estate is good but watch the higher interest rates that are sure to come from the large budget deficits...GW charged up on his gov credit card... P.S. I am not a Democrat ....Voted for GWs father twice..and GW the first time...
Lead plaintiff lingo is pretty standard stuff. My company was sued like this and what these guys are looking for is a large stockholder who was left holding the bag and is pissed. This stockholder will have deep pockets and political influence to help get the case on the fast track. Also these civil suits are sometimes the trigger for a Justice Department investigation for Insider Trading and Securities Fraud... Careful about tort reform i.e. be careful what you wish for....As a stockholder I love the idea of tort reform as a consumer/patient/client I don't.
My Doctor rides a Harley. He has a plaque in his office that says.
"You don't see motorcycles parked outside a Psychiatrist's office"
Since I started riding my health has gotten better. Lost weight, lower blood pressure, My doctor says everyone needs a place to blow up steam...he was the only one not surprised by my improved health...
I like how they list all the other companies they are suing at the end, like that is something to be proud of-"If this case doesn't interest you, here is a list of other companies we are trying to shake down for big$$"
Dealers around me have bikes--all Sportsters and V-Rods, and those are still overpriced
Everyone who knows the industry knew that the Harley string had to run out some time. Look at your local used bike rag. There's already a ton of harleys in there. Seems like H-D and their dealers have been running their business on the W.C. Fields rule of business: "It's morally incorrect to allow a sucker to keep his money."
But let's be fair, people have been scooping up their overpriced products for years. Maybe it's time Harley reduced their prices to where they belong. They can still make a handsome profit selling for a lot less.
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