I am a Victim

Or at least that's what the class action lawsuit says.


"all purchasers or acquirers (dumb-asses like me) of publicly traded securities of WorldCom, Inc. during the period from April 29, 1999 through and including June 25, 2002 (the "Class Period" or window or idiocy as I like to call it), and who were injured thereby. (screwed, swindled, bamboozled)"

I've been receiving court notices and class action junk for at least 2 years now. I really haven't paid much attention to them. I was never one for the "victim mentality". I screwed up, I got greedy and bought worldcom stock --- it turns out they were cooking the books and I lost some dough. I just literally wrote it off and forgot about it.

But then I received (and actually read) another notice that said they have extended the dedline to claim yourself as a plaintifs in the class action lawsuit. ...cue the Judge Wapner music...
The defendants: Bernard J. Ebbers and co-conspirators.
The plaintifs: the trustee of the State of New York retirement fund, a few other people, and myself.

Victims. I am a victim.


It's not my fault. Bernie will be rotting away for the rest of his life in jail. And now I should be compensated.

I don't exactly revel in Bernie's suffering -- really couldn't care less. But I might get money. Which is the one of the real reasons why I am submitting a "Proof of Claim and Release" form in the mail today. Key word "might". The other reason is just plain curiosity.

Out of the settlement, we victims will get $6,128,056,840.
The attornies will get $195,418,126.

Then, I might get what is called a "Recognized Amount" from the settelement fund. According to paragraph 20, subparagraph A of the Supplimental Plan of Allocation my Recognized Amount can be found in Table A of the Tables Related to Supplimental Plan of Action which says my stock price was inflated by 80%.

And any money left over will go into a "investor education fund". Whatever that is.


I've never really bought into the american notion of suing everytime you feel you've been wronged. I realize there are a lot of ligitimate reasons to sue, but I've grown cynical over the years after watching hundreds of ambulence chaser commercials. Or how 'bout my first real exposure to the judicial system: "Night Court" or later: "Judge Judy". Doesn't exactly inspire confidence. And no, I never got into Law&Order. And being an engineer, I find law extremely boring. If I was reaading this blog I would have lost interest several paragraphs ago.

So how much will I get for my "injuries"? I have no idea. maybe 2$, maybe 80%. But, all I want it what's comming to me. All I want is my fair share. I'm a vicitim.