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comment by b_b
b_b  ·  945 days ago  ·  link  ·    ·  parent  ·  post: The "mother of all lawsuits quietly filed last month vs Facebook in Delaware"

The plaintiffs have a lot of money. These are apparently giant pension funds, so they probably have hundreds of billions. What they're willing to settle at is a different matter, but hopefully their discovery will be noticed by criminal authorities. Remember folks, Martha Stewart spent like 6 months in jail for insider trading on like $50k, or approximately 0.0005% of what Zuck insider traded.





am_Unition  ·  945 days ago  ·  link  ·  

Yeah, the pension funds together have something on the order of $10 billion, but now I understand why that's irrelevant.

It's times like these that I wished I had more capacity to signal boost the discovery info to increase the likelihood of criminal prosecution.

Since this is a violation of federal law, does it have to be pursued by a federal or state-level prosecutor, or could I hire someone in the private sector to go after Zuck, F-book, and/or the FTC (if I had the money: I don't)?

Sorry for my confusion, it's a mix of me being in a hurry earlier, generally ignorant of finance law, and unable to effectively google without legalese jargon know-how. And not wanting to spend hours poring over the law code. Definitely that last one.

kleinbl00  ·  945 days ago  ·  link  ·