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Post by selluwud on Feb 24, 2016 21:49:04 GMT
From my own experiences dealing with a contingency liability lawsuit where the lawyer got 1/3, he also will bill for any expenses they incur for document fees, mailing, or basically any money they spend on your behest to win there case. It usually ends up they get more like 40-50 %, Caveat Emptor.
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Post by kukkido on Feb 24, 2016 22:36:55 GMT
Is anyone else able to get into ICELL. I see that some people are posting and getting responses. I got a weird cookie,
Unable to add cookies, header already sent. File: /home/icell/public_html/forum/forumdisplay.php Line: 1
Kukkido
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Post by kukkido on Feb 24, 2016 22:39:58 GMT
I agree, they will get their monies and its always at our expenses. But, its a necessary evil, we can't represent ourselves. That is why we need an attorney to draft a letter so we can negotiate a settlement in our favor. What is it that we will take? I say raise the limit and shoot for the sky, then let them counter and then if we aren't satisfied WE CAN GO TO COURT.
Kukkido
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Post by vzveteran on Feb 24, 2016 22:40:29 GMT
No I tried logging in and got the message I posted before.. I think if you are not a paid member you are blocked now.
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Post by moonfiddler on Feb 24, 2016 23:27:58 GMT
I agree, they will get their monies and its always at our expenses. But, its a necessary evil, we can't represent ourselves. That is why we need an attorney to draft a letter so we can negotiate a settlement in our favor. What is it that we will take? I say raise the limit and shoot for the sky, then let them counter and then if we aren't satisfied WE CAN GO TO COURT.
Kukkido Why don't we all join together first, with as many appraisal shares we can get...then approach Astellas to see if they'd make an offer prior to an attorney and court? We could all agree on a price, and see where it goes. If Astellas ignores us.....then we'll get an attorney and court, and aggressively go after them....and pay the 1/3 and other fees (they could still settle prior to court). Kukkido, why don't you be our leader....and we'll all chip in for your expenses, etc....and even pay you a FAT fee!!
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Post by kukkido on Feb 24, 2016 23:58:45 GMT
Hey Moon, its okay. What ever is good for us to get this monkey off our back. If working directly with Astellas doesnt work. I really want to hammer the appraisal, as I believe they had to show big big assets to get the 30 million dollar loan and other guarantees from the banks. It is an exercise we can all work on. Like we dont have anything better to do.
Kukkido
I have a meeting with an attorney tommorrow in Los Angeles and will let you know.
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Post by moonfiddler on Feb 25, 2016 0:14:50 GMT
Hey Moon, its okay. What ever is good for us to get this monkey off our back. If working directly with Astellas doesnt work. I really want to hammer the appraisal, as I believe they had to show big big assets to get the 30 million dollar loan and other guarantees from the banks. It is an exercise we can all work on. Like we dont have anything better to do. Kukkido I have a meeting with an attorney tommorrow in Los Angeles and will let you know. That's great and thanks!! One thing we can all do it probably drink some more booze!......
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Post by kukkido on Feb 25, 2016 0:31:08 GMT
Yup,
No problem, Ill let you know what transpires. Gotta work chat later.
Kukkido
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Post by thechurchmaus on Feb 25, 2016 2:43:41 GMT
doing some research into the courts case history in regards to fees it comes out as an average of 25% or less including other cost like filing fees and such.in a few cases the company was ordered to pay as well.i think a third plus cost is unreasonable.
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Post by kukkido on Feb 25, 2016 7:25:38 GMT
Hey Church,
If you can give me a couple of weblinks you researched, I can use this to negotiate with an attorney how much money he will get. I only want the attorney to charge a fair and reasonable fee. Right now its like asking for an estimate without having any prior knowledge or experience of that kind of work being done. Relying on an attorney to be in our best interest sometimes requires him to put more focus and attention to our case. I'm in a class action suit that has been ongoing for 8 years. Believe me, I have been to Depositions, read through interrogatories and Discovery issues and now, we are at the 9th Circuit Court waiting for a hearing date. In which, I will have to testify.
Tomorrow, I will go to meet with an attoney who I think can help. I want to see how far he can go on this case being in Los Angeles with a case having to be filed in Delaware. If anything I can get him to represent me in this case or have him look at papers which are legal docs and make sure were not getting screwed. If you have any questions for the attorney, Post them here and I can follow up. I spoke with Eric, but like I said I want another opinion or two. My first inclination is to draft a proposed Settlement with OCATA. Eric said he only will do that if we sign the Retainer Agreement, I think I wanted to go another route. Anyone can work on their own, but strength in numbers.
I am assuming the Lawyer who I will be meeting tomorrow wants to charge to draft a letter and of course I will have to pay upfront. If its 300 -500 dollars, I will probably pay it. Because, he will also have to followup and and if there is an offer, he will have to start the negotiation. I asked him today if he will work on a flat fee or hourly basis and he said for this he would.
If we want to use him to file the Appraisal Case, that will be a different agreement and I will need the Weblinks to negotiate a deal. I know he will make us a priority and he will stay on top of things. I told him we have a deadline on this and want the Proposed Settlement letter drafted by this weekend if not sooner.
So, if your interested just let me know. Remember, I'm doing this for us, as we have persevered for more than 8 years. We have come together as a group and ibe strong to finish this off. I appreciate all of you and your input.
Kukkido
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Post by thechurchmaus on Feb 25, 2016 10:45:43 GMT
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Post by moonfiddler on Feb 25, 2016 14:19:27 GMT
Hey Church, If you can give me a couple of weblinks you researched, I can use this to negotiate with an attorney how much money he will get. I only want the attorney to charge a fair and reasonable fee. Right now its like asking for an estimate without having any prior knowledge or experience of that kind of work being done. Relying on an attorney to be in our best interest sometimes requires him to put more focus and attention to our case. I'm in a class action suit that has been ongoing for 8 years. Believe me, I have been to Depositions, read through interrogatories and Discovery issues and now, we are at the 9th Circuit Court waiting for a hearing date. In which, I will have to testify. Tomorrow, I will go to meet with an attoney who I think can help. I want to see how far he can go on this case being in Los Angeles with a case having to be filed in Delaware. If anything I can get him to represent me in this case or have him look at papers which are legal docs and make sure were not getting screwed. If you have any questions for the attorney, Post them here and I can follow up. I spoke with Eric, but like I said I want another opinion or two. My first inclination is to draft a proposed Settlement with OCATA. Eric said he only will do that if we sign the Retainer Agreement, I think I wanted to go another route. Anyone can work on their own, but strength in numbers. I am assuming the Lawyer who I will be meeting tomorrow wants to charge to draft a letter and of course I will have to pay upfront. If its 300 -500 dollars, I will probably pay it. Because, he will also have to followup and and if there is an offer, he will have to start the negotiation. I asked him today if he will work on a flat fee or hourly basis and he said for this he would. If we want to use him to file the Appraisal Case, that will be a different agreement and I will need the Weblinks to negotiate a deal. I know he will make us a priority and he will stay on top of things. I told him we have a deadline on this and want the Proposed Settlement letter drafted by this weekend if not sooner. So, if your interested just let me know. Remember, I'm doing this for us, as we have persevered for more than 8 years. We have come together as a group and ibe strong to finish this off. I appreciate all of you and your input. Kukkido Hi kukkido! We're with you all the way, and will contribute whatever is necessary for expenses, etc. Thanks very much for being taking the lead!!!
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jak
Junior Member
Pic reflects current mood
Posts: 88
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Post by jak on Feb 25, 2016 15:24:29 GMT
Hi Kukkido, count me on-board as well with your direction/selection. In terms of price I will throw out a range that sounds fair to me (based on IP not counted) to start the conversation and let more voices chime in: $14-$19/share. As a thought, Maybe the letter to Astellas can appeal to the fact that we are the small investors that kept the company alive through the tough times.
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Post by thechurchmaus on Feb 25, 2016 16:44:56 GMT
question to all:who has your shares now?cede,the broker or yourself?
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Post by kingston on Feb 25, 2016 19:00:15 GMT
question to all:who has your shares now?cede,the broker or yourself? Schwab- I received a letter from them attaching a copy of the letter from Cede to Ocata asserting appraisal rights on my behalf. No stock certificates received yet from Ocata/Astellas. My account shows the right number of shares, but with a new CUSIP reflecting my dissent. I haven't yet contacted Ocata/Astellas to get some written acknowledgement and/or my stock certificates. Fidelity- I've received nothing from them, Cede or Ocata/Astellas. When I contacted Fidelity about my concern of having nothing in writing from anyone, they said they'll try to get me a copy of the Cede correspondence, but I have nothing to worry about since my account correctly shows the right number of shares, with the new CUSIP. That proves that Ocata/Astellas received my request for appraisal rights, since if they hadn't, then I would have already been paid the $8.50 per share and my account would show no shares remaining. It makes sense, but I still would like to have at least something in writing from somebody.
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Post by vzveteran on Feb 25, 2016 19:14:39 GMT
question to all:who has your shares now?cede,the broker or yourself? Schwab- I received a letter from them attaching a copy of the letter from Cede to Ocata asserting appraisal rights on my behalf. No stock certificates received yet from Ocata/Astellas. My account shows the right number of shares, but with a new CUSIP reflecting my dissent. I haven't yet contacted Ocata/Astellas to get some written acknowledgement and/or my stock certificates. Fidelity- I've received nothing from them, Cede or Ocata/Astellas. When I contacted Fidelity about my concern of having nothing in writing from anyone, they said they'll try to get me a copy of the Cede correspondence, but I have nothing to worry about since my account correctly shows the right number of shares, with the new CUSIP. That proves that Ocata/Astellas received my request for appraisal rights, since if they hadn't, then I would have already been paid the $8.50 per share and my account would show no shares remaining. It makes sense, but I still would like to have at least something in writing from somebody. Hi Kingston welcome...Would you like to add your shares to the appraisal count?...It's all anonymous for now.. thebiotechinvestor.freeforums.net/thread/1189/appraisal-share-count
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Post by thechurchmaus on Feb 25, 2016 20:09:24 GMT
Schwab- I received a letter from them attaching a copy of the letter from Cede to Ocata asserting appraisal rights on my behalf. No stock certificates received yet from Ocata/Astellas. My account shows the right number of shares, but with a new CUSIP reflecting my dissent. I haven't yet contacted Ocata/Astellas to get some written acknowledgement and/or my stock certificates. Fidelity- I've received nothing from them, Cede or Ocata/Astellas. When I contacted Fidelity about my concern of having nothing in writing from anyone, they said they'll try to get me a copy of the Cede correspondence, but I have nothing to worry about since my account correctly shows the right number of shares, with the new CUSIP. That proves that Ocata/Astellas received my request for appraisal rights, since if they hadn't, then I would have already been paid the $8.50 per share and my account would show no shares remaining. It makes sense, but I still would like to have at least something in writing from somebody. Hi Kingston welcome...Would you like to add your shares to the appraisal count?...It's all anonymous for now.. thebiotechinvestor.freeforums.net/thread/1189/appraisal-share-count i spoke with fidelity today (ext19630)and asked them to send me a copy of the letter asserting my appraisal rights which they agreed to do.i have also asked them to withdraw a small portion of my shares as i need a little financial cushion until this is over.
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Post by thechurchmaus on Feb 25, 2016 20:25:58 GMT
i would also recommend fidelity very highly as they did all of the work without charging me a dime! i also grilled eric andersen,the lawyer some of you consider, on the phone about taking a third plus costs when it states in the law that the court will determine reasonable lawyers fees and cost to be deducted from the proceeds at the end.it averages 23%.he was very mad at the freeloaders.....i suspect with almost two and a half mill shares involved there is at least one arbitrage hedgefund in the mix and since only one party is admitted in court i ride on their coat tails.
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Post by moonfiddler on Feb 25, 2016 20:53:38 GMT
Hi Kingston welcome...Would you like to add your shares to the appraisal count?...It's all anonymous for now.. thebiotechinvestor.freeforums.net/thread/1189/appraisal-share-count i spoke with fidelity today (ext19630)and asked them to send me a copy of the letter asserting my appraisal rights which they agreed to do.i have also asked them to withdraw a small portion of my shares as i need a little financial cushion until this is over. Hi church, Our stock is out of our Scottrade account, and we have a paper certificate made out to Cede & co. I had called Scottrade to see if we could tender some of our shares, and hold the rest for appraisal....they got back to us today and said we cannot? It's all or nothing, according to them? We received no forms or paperwork from Scottrade about our seeking appraisal rights....I doubt if they did much more than transfer the shares to Cede & Co. (and charged $600!). We sent a letter directly to Ted Miles stating we were applying for appraisal.
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Post by thechurchmaus on Feb 25, 2016 21:51:06 GMT
i guess some brokers are better than others!it is certainly possible to unlock some shares.ask them to put some shares back into your account.they will be taken by astella when the time to file for appraisal expires.be firm and threaten them with cancellation of your account.tell them fidelity does it all for nothing and not to charge you another dime.rip off artists and too lazy to boot to do any research. if nothing helps ask them to talk to their general council.
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