Schafer: Shareholder suits benefit no one but the lawyers

  • Article by: LEE SCHAFER , Star Tribune
  • Updated: November 9, 2013 - 4:33 PM

Early on the Wednesday after Labor Day, Rochester Medical Corp. of Stewartville, Minn., announced its sale to C.R. Bard, Inc. for $20 per share, or about $262 million.

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rms316Nov. 10, 1311:02 AM

Agreed that the Attorneys reap the most benefit. In my case, I received a portion of my retirement back in both a class and private action suit. It wasn't what I had lost but it was something. When corporations break the law, or shortchange the shareholder, why shouldn't they be sued? Just would like to see most money going back to those with vested interests.

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mkuldaNov. 11, 13 5:06 PM

When a company shortchanges shareholders, the solution is simple...the shareholders can simply vote in a new Board. Why do the courts need to be involved? Only one reason....to make money for the personal injury lawyers.

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Fair ViewNov. 12, 13 8:11 AM

Good article. This topic needs more visibility. The shareholders have a voice in this process and amplification by a money-chasing group of attorneys doesn't help the shareholder. As mkulda stated, the shareholders can express themselves on the proxy vote and remove the board. In most cases the shareholders also can vote to disapprove the deal.

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