Investors Need Patience for $$

If you were involved in one of Nortel’s class-action lawsuits that have been settled, don’t get your hopes too high about getting your money soon. According to the Toronto Star, the cash from the biggest lawsuit – $2.5-billion that was settled with a combination of $819-million in cash and $1.66-billion in stock – won’t be paid out for several months as a process company goes through the claims made by 237,642 shareholders to determine which ones are valid and how much each investor lost. The process could take even longer that that a Maryland travel agency, Rinis Travel Services Inc., has filed an appeal of the settlement. Rinis bought 300 Nortel shares in late-2000 as part of a profit-sharing trust.

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One Response to “Investors Need Patience for $$”

  1. Apple Says:

    Did you know that an average defrauded NT shareholder can get a new car from the settlement?

    the pool of money/and shares/ is around $2.5 bill

    claims received around 250 000
    so on average
    one investor will get $10 000
    in other words
    Each claimant, the average Joe, will get $3.300 in cash
    and 250 new shares
    250 shares at $30 is $7500
    /just my silly statistics/

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