Monday, December 5, 2011

This Sounds Ugly

What is this, class action lawsuit month?  (Aren't they all?)  I received a letter today with the unpleasant return address: "SEC v. Gallucci Disgorgement Fund."  Yes, I know that disgorgement has some precise legal meaning, but it sounds like something that might require a barf bag.

SEC went after several people for insider trading, and if you sold stock in DEC, DSC, Chock Full O' Nuts, Orion Capital, or Nielsen Media Research on several particular days in 1998 and 1999, you are eligible to get some money disgorged onto you--which is much better than what I might expect "disgorgement" to produce.

To my surprise, I was actually doing some day trading in DSC as late as March and April of 1998--but no sales on the dates in question, so no cash will be disgorged on me.

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