Comments on: Class-Action Payments Coming

By: Ed

Ed — Sun, 01 Jun 2008 14:41:11 +0000

Tom – sorry, I forgot to check back for replies!! I originally had about 400 shares and got back 17. Just last week, I received a settlement cheque as well (equivalent to the current value of the settlement shares) that I wasn’t expecting. So that was a pleasant surprise – beer money!! I never had a whole lot invested in Nortel so my losses were pretty insignificant compared to others. I suspect you probably have your certificate and cheque by now…

By: Desi

Desi — Mon, 05 May 2008 22:38:28 +0000

I finally got certificates in the mail.
However, they are worth one third from what they were worth just a year ago (high of Cd$28 to todays value of 8.38 5th May 2008).

I wonder if the firm that filed the class action law suit probably walked away with the last laugh….and all the way to the bank on top of the legal fees they collected.

May be a class action against them, would be an option.

By: Tom

Tom — Sun, 04 May 2008 15:38:13 +0000

Hey Ed, how many original shares did you have?

By: Ed

Ed — Fri, 02 May 2008 00:37:27 +0000

Got my settlement today – a share certificate worth about 4% of my initial investment (or 8% of what I lost). Woo hoo!! I’m going to frame mine…

By: Tom

Tom — Mon, 31 Mar 2008 17:23:48 +0000

1/3 of the claims got rejected according to the latest update. That means a bigger cut to those who got approved.

By: John

John — Wed, 26 Mar 2008 01:06:22 +0000

I agree with the previous comment. Everytime we ask these lawyers all we hear`is they are going through the due diligence. We asked many times for the receipt of our information and never got anything other than the lip service.

I guess they are going to trying to delay everything so that people will give up and stop claiming or following up. Unfortunately we have regulating bodies for everything else but who is regulating the lawyers handling these claims? All they will do is get a fat pay check and you can kiss your investments good bye.

Goooooodddd Luuuuuuucccccck.

By: John

John — Thu, 20 Mar 2008 20:24:07 +0000

I haven’t received any payment or communication in over a year. Since then the value of the Nortel shares we were supposed to be receiving have dropped from around $30 to about $6. I have less faith in these lawyers than the Nortel accounting team, and am now wondering if they sold all shares when they got them in trust (I don’t know for sure if they did receive them) and will make a profit of $24 a share based on giving them to us today. It seems to me that with the speed computers can crunch data, they should have been able to get these settlements into out hands sooner. We have collectively lost about 15 billion bucks through their delay. Perhaps another class action suit would be in order.

By: Tom

Tom — Fri, 29 Feb 2008 16:45:27 +0000

Still waiting for mine. Would be nice if they would give us an update on their website. Calling them was a complete waste of time as the CSR knew no more than I did.

By: Roger

Roger — Wed, 27 Feb 2008 19:19:09 +0000

Has anyone gotten a check yet.

I had 20,000 shares and lost my savings.

Any payout would be better than nothing.

By: nortel

nortel — Tue, 04 Jul 2006 17:04:46 +0000

that’s probably the saddest part of the entire nortel saga – seeing people put so much faith and money in nortel only to see it disappear. it was troubling to hear someone at the AGM talk about how he bought 40K shares at $80 each. his $3.2 million investment is now worth $100K.