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Ruiz "Under Investigation" by ambulance chasers

GoCanes!! said:
i think most people are missing the point. They are trying to say he cashed out a bunch of stocks when it was at 10.00 after nasdaq opened it which is a big no no. People are saying he is a scam artist and he's Nevin 2.0. Don't shoot the messenger
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that doesn't make sense. I am sure most of the stock he received was restricted and could not be sold. if he had free trading stock he is perfectly within his rights to sell it as long as he followed the insider reporting rules which I am sure he did.
 
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GoCanes!! said:
www.forbes.com

Despite Falling Stock Of This Medicare Litigation Firm, Its SPAC Deal Mints Two Billionaires

Shares of MSP Recovery tumbled more than 50% on Tuesday, the first day of trading as a newly-merged SPAC, but its founder and chief legal officer are now billionaires.
www.forbes.com www.forbes.com
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Read the entire article and nowhere did it say “he cashed out a bunch of stocks when it was at 10.00 after nasdaq opened”. Article is questioning valuation, which guess what even in regular IPO’s stocks open for trading and drop. Meaning market doesn’t agree with its valuation. Happened to Facebook and that worked out alright for IPO investors.

Maybe people on social are speculating that he dumped stock but it’s not that simple, there’s a process for an insider to sell stock. They don’t just log onto their eTrade account and start selling.
 
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SPAMM said:
I was talking about the solicitation to start a case. Of course in these cases you do not need a agency action.
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Fair enough. We just have to be precise in our language.

All of the misleading articles use the term "under investigation", which is a descriptive term used for government action, or government-sanctioned action.

But, yes, this firm is SOLICITIING clients. Not INVESTIGATING.

It's hard to believe that some posters are under the misunderstanding that the government will finally approve a SPAC, and then start its "investigation" a day later. Ridiculous.
 
TheOriginalCane said:
So you did it again.

And you wonder why people ****e on you...
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poop GIF
 
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GoCanes!! said:
i think most people are missing the point. They are trying to say he cashed out a bunch of stocks when it was at 10.00 after nasdaq opened it which is a big no no. People are saying he is a scam artist and he's Nevin 2.0. Don't shoot the messenger
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He bought shares and there is typically a lock period where executives are not allowed to sell shares after a spac goes public. So politely, that is entirely bull****.
 
This is obviously BS, but when you are as public and loud as Ruiz has been this is the kind of attention that comes with it
 
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CFLCane said:
This is really common in the equity space. Anytime a stock drops ambulance chasers show up. Literally dozens of lawyers will spam their services.
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So true. What happens all the time is that investors claim they were mislead into buying the stock. This is very, very difficult to prove, especially in a bear market, because the evidence has to show that the company knowingly made false, misleading statements to fraudulently increase value of its stock price.
These lawsuits are much more common than people know and they very rarely lead to any recovery because without a smoking gun it's almost impossible to prove.
 
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people going after me are dumb AF. all I said is people are speculating that he is a scam artist. Mainly UF and Free shoe fans. Go look at his Twitter and you'll see what I was saying
 
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