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Anyone else get a mailing on a Lucent class action lawsuit?(3 posts)

Anyone else get a mailing on a Lucent class action lawsuit?js5280
Jan 11, 2004 12:36 PM
The official title is "In Re Lucent Technologies Inc. Securities Litigation." There's a website as well: http://www.lucentsecuritieslitigation.com . This is the first time I received something like this and its got plenty of legalese. It appears totally legitimate as the case is mentioned in Lucent's annual report and other reputable sources.

I only have 10 shares although I have no idea if I have mutual funds with LU stock as part of the portfolio. Is there anything I need to really know about other than send it in and wait for my millions to pile in ;-)
having just received my windfall from the Citibank suit...dr hoo
Jan 11, 2004 4:56 PM
... I can tell you not to start spending yet.

We got two checks. One was 16 cents, the other was 4 cents. The lawyers got millions, I am sure.

We did not have to send anything in for the Citi thing (credit card related), and I refuse to do so when these things come up on stock related matters. I took the risk. And I would not benefit from the suit, the lawyers would. Not signing up won't stop it, but at least I won't be a part of it.

I'll forgo my 1/2 pack of chewing gum.
Fill it out, send it inPaulCL
Jan 12, 2004 7:01 AM
It can't hurt. With 10 shares,you'll get maybe enough for a cup of coffee. But why not take it??

I own LU and sent one in myself. I'm a VP with a financial services company. I have seen dozens and dozens of these class action suits over my 15 years in the business. It ALWAYS pays to fill them out. In fairness, most of the time the payouts stink when compared to what you lost. On the other hand, its' nice to get a check years later. I've seen payouts in the $10's of thousands of dollars. It takes so little time to fill out the forms so why not?

Paul