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Comments on news posted 2008-01-05 13:12:45: Comcast is facing two different lawsuits filed this week by investors who allege that the company has made false statements about their performance in order to affect stock values. ..

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newview
Ex .. Ex .. Exactly
Premium
join:2001-10-01
Parsonsburg, MD
Comcast lie?

Sounds like business as usual.


Chiyo
Save Me Konata-Chan
Premium
join:2003-02-20
Minneapolis, MN
clubs:
lies and slander! Comcomcast is the most honest, trusting, friendly company...

So if they loose the next round of price increases won't be "local upgrades" it will be "court costs penalty reimbursement fee"


Dogfather
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Laguna Hills, CA
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1 edit
Profit and loss is public record

I'm anything but a Comcrap fan but damn, they're publicly traded and profit and loss is there for the world to see and they're giving tons of notice about future outlook. The fact that people don't do their research before buying a stock is their own fault, not Comcast's.

And their "big revisions" were changing their revenue growth estimate from 12% to 11%. Wow...how deceitful. Churn and bad debt are affecting other cable operators too and others like TW took their lumps as well. It's called a sluggish economy helped along by Verizon giving away HDTVs to everyone signing up for FiOS video.

But like all class actions, this will just cost Comcast (and their customers) a bunch of money, those suing will get some stupid coupons or soemthing and the greedy bloodsucking waste of skin lawyers get filthy rich.


MrMoody
Carbon Based Lifeform

join:2002-09-03
Smithfield, NC
reply to newview
Re: Comcast lie?

You can lie to anyone you want and get away with it, except investors.
--
The public is a poor business manager.


Anonymister

@verizon.net

thumbs down from:
TKJunkMail See Profile

Getting what they deserve...

Bad customer service, oversold network, undisclosed bandwidth limitations......This is only the beginning of the downfall of Comcast.


Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL
·Comcast

said by Anonymister :

Bad customer service, oversold network, undisclosed bandwidth limitations......This is only the beginning of the downfall of Comcast.
They may not have look entirely pleasing to customers - but they are very very pleasing to their investors.


S_engineer

join:2007-05-16
Chicago, IL
·Comcast

reply to MrMoody
Re: Comcast lie?

But this is going to send the stock price further in the tank....they're fighting their own money!
Theres alternative ways to deal w/Brian Roberts and cohorts without causing your own investment to plummet!
--
Let's pluck 'im and see if he's ripe!"
- Larry (MEN IN BLACK, 1934)


hopeflicker
Capitalism breeds greed
Premium
join:2003-04-03
Long Beach, CA

reply to Rob
Re: Getting what they deserve...

said by Rob See Profile :

said by Anonymister :

Bad customer service, oversold network, undisclosed bandwidth limitations......This is only the beginning of the downfall of Comcast.
They may not have look entirely pleasing to customers - but they are very very pleasing to their investors.
And that's all that matters, unfortunately.

In this case, customer is NOT #1, it's your investors.
--
People pray to God because they're told to.


Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL
·Comcast

said by hopeflicker See Profile :

said by Rob See Profile :

said by Anonymister :

Bad customer service, oversold network, undisclosed bandwidth limitations......This is only the beginning of the downfall of Comcast.
They may not have look entirely pleasing to customers - but they are very very pleasing to their investors.
And that's all that matters, unfortunately.

In this case, customer is NOT #1, it's your investors.
Yep. I don't agree with it, but I can't blame them. One of the cons of going public.

jholdren

join:2004-04-02
Kent, WA

This is pretty much business as usual for the bottom feeders that are called lawyers. There are law firms out there that go out and buy single shares of every publicly traded company they can get their hands on. Then when any excuse comes up, they file a class-action lawsuit on behalf of the investors. If they're sucessful, each investor will likely get a pittance, depending on their total investement. However, the law firm will rake in 1/3rd of the settlement.


Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL
·Comcast

said by jholdren See Profile :

This is pretty much business as usual for the bottom feeders that are called lawyers. There are law firms out there that go out and buy single shares of every publicly traded company they can get their hands on. Then when any excuse comes up, they file a class-action lawsuit on behalf of the investors. If they're sucessful, each investor will likely get a pittance, depending on their total investement. However, the law firm will rake in 1/3rd of the settlement.
YEP! I have personal experience of this when the President of my work bought shares of our own stock and a lawyer of a "shareholder" contacted us saying they were going to sue. We had 60 days to resolve the issue, so we did resolve it and sent the lawyer proof.

Well, he sent us a bill for $1500 because he had to "notify" us of the error. We did some checks on this lawyer, and he has done this more than once (he's notorious for this). We agreed on $500 and gave him the $500.

Bastard.


NOCMan
Verizon Fios User
Premium
join:2004-09-30
Flower Mound, TX

reply to Dogfather
Re: Profit and loss is public record

This is not a class action lawsuit. The investors involved invested millions and the statments that they claim were misleading were provided to the SEC and through comcast investor confrence calls.

The CEO and other high ranking officials have publicly stated over the last year that telcoTV will not impact them and they've made similar statements in earnings calls and such.

This is not a case of "These forward looking statements blablabla". It's a case of deception at the highest levels of the company to hide the truth while a few individuals attempt to profit and hope that what they're hiding does not come out and bite them in the butt.


Rob
In Deo speramus, God Bless the USA
Premium
join:2001-08-25
Kendall, FL

2 edits
reply to jholdren
Re: Getting what they deserve...

Dup post!


Dogfather
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2 edits
reply to NOCMan
Re: Profit and loss is public record

»www.broadcastingcable.com/articl···257.html

quote:
Two class-action suits were slapped on Comcast this week accusing the company of issuing statements about performance that resulted in its stock being “artificially inflated” and “overvalued.”
Comcast is taking more customers from telcos than telcos are taking customers from Comcast. Any downturn from Comcast is a reflection of a general downturn in the economy and all of the operators are seeing it.

This is just a few lawyers looking to class-action their way into riches at the expense of Comcast and its customers.


hopeflicker
Capitalism breeds greed
Premium
join:2003-04-03
Long Beach, CA
reply to Rob
Re: Getting what they deserve...

I've said it once, and I'll say it again. Captiolism isn't always such a good thing. It breeds bad things such as greed and illicits improper ethics.
--
People pray to God because they're told to.


S_engineer

join:2007-05-16
Chicago, IL
·Comcast

thats ok...what goes around comes around. Some mutt without insurance will ram his car and he/she will have to eat the expense....metaphorically speaking of course.
--
Let's pluck 'im and see if he's ripe!"
- Larry (MEN IN BLACK, 1934)

cracker 52

join:2007-01-23
Atlanta, GA
reply to hopeflicker
As if such behavior doesn't occur in government, socialist, non-profit or regulatory systems? People make bad choices regardless of what economic or governmental systems exist.

cracker 52

join:2007-01-23
Atlanta, GA

reply to Rob
I agree. Just about all public companies whose stock tanks usually attracts investor lawsuits, regardless of economic conditions or changes in the industry. This post by BBR isn't really meaningful news. If the investors actually win their case, then it's truly newsworthy.


TKJunkMail
Enjoy the sun
Premium
join:2002-03-03
Avalon, NJ
·Sprint Mobile Broa..
·Comcast

reply to Dogfather
Re: Profit and loss is public record

said by Dogfather See Profile :

I'm anything but a Comcrap fan but damn, they're publicly traded and profit and loss is there for the world to see and they're giving tons of notice about future outlook. The fact that people don't do their research before buying a stock is their own fault, not Comcast's.

And their "big revisions" were changing their revenue growth estimate from 12% to 11%. Wow...how deceitful. Churn and bad debt are affecting other cable operators too and others like TW took their lumps as well. It's called a sluggish economy helped along by Verizon giving away HDTVs to everyone signing up for FiOS video.

But like all class actions, this will just cost Comcast (and their customers) a bunch of money, those suing will get some stupid coupons or soemthing and the greedy bloodsucking waste of skin lawyers get filthy rich.
Yes, the only ones that make money on these kinds of lawsuits are the sleazy law firms that file them.
--
Internet News
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PolarBear
The bear formerly known as aaron8301
Premium
join:2005-01-03
All I have to say is

[Nelson Muntz] HA HA! [/Nelson Muntz]
Forums » Investors Sue Comcastpage: 1 · 2


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