The action is on behalf of Yahoo! publicly traded securities purchasers during the period April 8, 2004 and July 18, 2006, inclusive (the “Class Period”), for violations of the Securities Exchange Act of 1934. The complaint alleges that defendants made false and misleading statements and material omissions regarding the Company’s business and operations and that, as a result, the price of the Company’s securities was inflated during the Class Period, thereby harming investors.
I purchased YHOO shares during the “Class period”, and still holding the stock (although holding is not a requirement). This seems to be one of those “sit back and wait” type of lawsuits. I think I should join. What are possible drawbacks?
I can only think of one: if a lot of people join, it would further depress YHOO price, would it not?