icekodiak
join:2001-06-14
Chester, VA
|  Hmmm....... this again!
Well they are at it again, It doesn't matter to lawyers who only see dollar signs that this little lawsuit could hurt Covad tremendously. I mean what is this! It's like the entire playground is rallying around the local bully(Verizon), to kick Covad while it's struggling to finish the race. All I can say is Covad is a fighter. They haven't gone down yet and as long as they have hardworking, purpose driven people working for them they will survive. Covad is turning out to be the 'Stallone' of the DSL boxing ring. Who knows... maybe soon we will hear 'The eye of the Tiger' being played loudly as Covad emerges from the meyham triumphant. Don't give up on them yet.... they are pushing hard. |
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spenster
join:2001-04-03
Houston, TX
| It doesn't appear that this is "It's like the entire playground is rallying around the local bully". These persons that have acquired Covad common stock are genuinely upset because of an alleged violation the federal securities laws. Now Verizon filing their suit against Covad appeared to be quite obviously an attempt to drain them of their capital. I just don’t see all these people joining a class action suit against Covad because they all will have something to gain by putting them out of business. If Covad is guilty of these claims, then unfortunately they should have to pay the price.
As far as various people’s statements about running while you can... it seems that they are concerned about whether or not they will have connectivity in the not so distant future. Many of those who experienced the loss of service due to the Northpoint closure can understand what this is like. Yes, dumping their Covad service will hurt the company but we all have to look out for ourselves and the companies that we work for. Believing in a company’s ability to survive is a wonderful thing. But if YOUR company’s business depends on your connectivity being there, are you willing to gamble on that? |
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hoff
@38.204.x.x | Very well put. It is refreshing to read an fair-minded and thoughtful posting. |
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basshive
True-Playaz
join:2001-02-26
Waterford, WI
| reply to spenster
Well, I dont know what kind of *business* you are in or if you even are for that matter, but I can assure you that not only would I stay with Covad but I would take steps to ensure an easy cut-over in the event that it was needed. If you are going to be 100% closed off and at a loss business wise if Covad turns out the lights then you are already using the wrong provider. I can understand needing to lookout for yourselves. I feel bad for the people caught in the turmoil of the NP fiasco. However, based on your logic, everytime something happens that is negative everyone should jump ship and change etc etc. Would you suggest the same if something like this happened to your company? Would you tell all your employees to jump ship because they should be looking out for their own? Should all of us tell people to run from your company? Doesn't sound like good business to me friend and I doubt you would appreciate it much yourself.
Im very passionate about this issue because I depend on Covad. I find it very sad that people now-a-days complain, whine, cry, and scream about how little competition there is for DSL outside of the Bells and yet those same people are ready to watch one of the last standing die. Very sad indeed.
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..::drum and bass cannot be stopped::.. |
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spenster
join:2001-04-03
Houston, TX
| I really don’t see what kind of "business" that I’m in to be relevant to this issue. You suggest that if connectivity to a particular business is in any way important to it’s success then they not use Covad. Is that how you defend them? You do know that a major portion of their business is business grade circuits right? And what exactly is an "easy cut-over"? Going to the telco? Going to Rhythms (delisted)? Neither have proven themselves to be an easy experience. What are the users of IDSL supposed to do? I haven’t seen too many telcos offering IDSL circuits. And another thing, an "easy cut-over" just doesn’t exist right now. Some people that lost their Northpoint service still haven’t been able to get broadband service with another provider. And even if they did, the majority of them didn’t happen overnight.
Regarding your response to the "running while you can". I wasn’t suggesting that everyone do that. Read the post again. I was merely pointing out the fact that people should be aware that they are risking their connectivity and their ability to secure replacement service in a timely manner if in fact Covad has to close shop. And no, I would not recommend that all of our employees jump ship if we were to ever get into trouble. But, I would respect their decision if they decided to leave based on their concern of personal well being. I don’t know if you have a family depending on you to provide for them but there are some of us that do. If I were faced with having to decide to either…
A - Stay with a company that looks as if they COULD go out of business at any time
Or
B - Try and secure employment with a financially sound company
I would have to go with B so that I can feel more secure in my ability to provide for them. That's what I mean when I say look out for ourselves. Again, I am not suggesting that everyone take off in an all-out sprint to drop their Covad lines. Just be prepared. If the line isn't that important to you, by all means, keep it and ride it out. Maybe everything will turn out just fine.
You stated that you are very passionate about this because you depend on Covad. How exactly do you depend on them and just what do you plan to do if you loose your line? Is there a turn-key solution just waiting for you to say "go"? Will it go live the day after if Covad’s network goes dark?
I didn't create this world, I just live in it. |
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Rock Guitar
join:2001-01-17
Columbus, OH
clubs:
| reply to icekodiak
How Ignorant !!!
This lawsuit is for the investors who have been defrauded, not the lawyers... you silly person. And what are people suppose to do who invested money in a company that defrauded them? Just let them get ripped off? Or how about hiring a lawyer? Your lawyer comment shows how really ignorant you are. |
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Anon | In a class action of this nature NO ONE makes any appreciable money except for the lead plantiff and all the ambulance chasing lawyers involved.
Been there, done that. Get a clue yourself. |
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Rock Guitar
join:2001-01-17
Columbus, OH
clubs: | Yeah, and like you could fight a company with your small little claim if you didn't have a class action. Right. Like you know what YOU are talking about. |
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Anon | Actually I do.
Actually I could.
Class actions WITHOUT A LEAD PLAINTIFF are not brought up by a wronged investor, they are brought up by a law firm looking to cover a slow period. Then they SEARCH for an investor (the lead) to say he was wronged and start signing up others (who will receive little to nothing). It is as simple as that. There are no "wronged investors" looking for justice at this point so give the violin music a rest.
Lost some money yourself?
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Rock Guitar
join:2001-01-17
Columbus, OH
clubs:
| I see. So you must work at a law firm and that is how things are done there... or could you possibly just be talking out of the side of your... head?
According to you, all these class actions are completely fabricated and all those plaintiffs went kicking and screaming to the courthouse. And all those judges were tricked by these law firms into believing that there were legitimate legal claims. Right... |
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Anon | reply to Anon
If you read the complaint, they do have a lead plantiff. Her name is Helen Korsinsky. |
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Anon | reply to Anon
To add to that, the complaint presents a pretty good case against the underwriting firms, including investigations that are ongoing by the SEC. However, the evidence against Covad officers appears to be purely speculative. Maybe they have more substantiating evidence against Covad officers than what is laid out in the complaint. However, if they did, I would think that they would include it like they did evidence pointing to wrong-doing on the part of the underwriters.
By the way guys, is this back and forth attack on one and other really necessary? |
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Rock Guitar
join:2001-01-17
Columbus, OH
clubs:
| said by UND1975:
By the way guys, is this back and forth attack on one and other really necessary?
Uncle. You are right. I give up. I just get very frustrated by the attacks on the lawyers, which totally detracts from the real issues.
Also, lawsuit complaints only are required to state a cause of action against a party so as to put the party on notice to defend itself. That is why I have been saying that if Covad is innocent, then they have nothing to worry about.
The lawyers must include in their complaint all parties who may be liable, otherwise their clients loose the right to proceed against them. They will now conduct discovery proceedings with the power of subpoena, which may or may not exonerate Covad. |
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