Re: Infor buy SSA => lawsuit

There is a breed of lawyers similar to ambulance chasers who monitor the
market for situations like this, then attempt to recruit shareholders to
participate in these kinds of lawsuits. Judges usually recognize them
for the opportunistic bottom feeders that they are, as do most saavy
investors.

tomjedrz@xxxxxxxxx 6/5/2006 11:49 AM >>>

On 6/5/06, Al Mac <macwheel99@xxxxxxxxxxx> wrote:

Stockholder Steven Fisch alleges mis-management, stock manipulation,
conflict of interest.  The lawsuit seeks class action status, on

behalf of

other minority stockholders.

I think this is trolling for another buck or two per share for the
minority shareholders.

I don't have any insider info, but the case seems pretty baseless.
SSAG went public in May 2005 at $12 and climbed to $20 in early
December, but had been in slow, steady decline since.

That said, I would not be surprised if the case is negotiated away and
quietly dropped in a few weeks.

Greenough gets $ 44 million from the deal.
He became SSA CEO in May 2001.
http://www.chicagobusiness.com/cgi-bin/news.pl?id=20857

From the article:
"Mr. Greenough's package is more than 3% of the deal's value.

"
This is arithmetic; he owned 3.3% of the company, so he gets 3.3% of
the proceeds of it's sale.  3.3% of $1.36 Billion is $44 million.  It
is hard to argue that he didn't serve the shareholders; the company
was bankrupt when he started; he had 3.3% of nothing and grew it to
3.3% of $1.3 Billion.  One could argue that perhaps the 3.3% ownership
was generous, but again, Greenough came on board when the company was
worthless.

I wonder when Mr. Fisch bought?