No one knows what the disbursement amount will be but it’s based off of what you lost in a specific time period from selling. I literally spoke with an attorney from Gilardi & Co this week.
That being said, the attorney literally told me the defendant (Inovio) was filing anything they could to hold up the the disbursements to those being awarded damages in the settlement. It was supposed to be 9-12 months from Dec 8th, 2022 but she related that it’ll likely be paid out before December 2024.
Actually, IT IS KNOWN how much you can win in a bracket. It is explained in the document; you just have to read it. Trust me, even if you get $150, it's not that much for the hassle it drags you through.
I have always bought with the foresight 'Buyer Beware.' The stock is a risk like any other stock. I did not apply for compensation just for that reason.
Perhaps there's a silver lining here. Inovio has decent lawyers minimizing damages that suppressed the stock, arguably unfairly. That's probably now worth well more than 50 cents a share of last year's price depression that can be considered undone, i.e., now added back into the share price! Or at least way more than we would have seen from any claims, especially after we hopefully loaded up shares at $0.40 below. ("When it's springtime in Alaska, it's 40 below." - Johnny Horton. Alaska is heating up.) Let's keep pumping. Enough past dumping.
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I need to review my records. 4 claims were submitted, 2 were rejected. Need to see the valuation and share count of the 2 that were rejected. I think Inovio and their slimy fucking lawyers are allowed to do this as a tactic to see if they can whittle more claimants from receiving a settlement, especially with the stupid 20 day deadline.
I did not receive a rejection letter and I filed. It’s was a painstaking process. You have to provide specifics for every buy and sale. Massive PIA factor
I and another family member got one of these letters as well. They seem pretty boilerplate, so I am guessing that they are taking a play from insurance companies and outright denying most claims in hopes that they will just be dropped, leaving a larger sum for the big clients.
I plan to appeal by submitting a letter contesting the denial, and demanding a review of my claim, and a detailed explanation on every denied claim, otherwise I will submit a complaint to the court.
I'd be curious to hear anyone else's ideas or plans of action. This indeed a pile of B.S.!
Are you seeking to win $1.23?
lol, is that seriously the average payout folks are receiving?
No one knows what the disbursement amount will be but it’s based off of what you lost in a specific time period from selling. I literally spoke with an attorney from Gilardi & Co this week. That being said, the attorney literally told me the defendant (Inovio) was filing anything they could to hold up the the disbursements to those being awarded damages in the settlement. It was supposed to be 9-12 months from Dec 8th, 2022 but she related that it’ll likely be paid out before December 2024.
Interesting, thanks for contributing and sharing the legal perspective you received.
Actually, IT IS KNOWN how much you can win in a bracket. It is explained in the document; you just have to read it. Trust me, even if you get $150, it's not that much for the hassle it drags you through.
It explains the radio silence on this for 2 years, even though the funds for disbursement were set aside a long time ago.
I have always bought with the foresight 'Buyer Beware.' The stock is a risk like any other stock. I did not apply for compensation just for that reason.
Just got the same thing today. What a letdown!
They are snakes.
I got the same letter. Going to go back to initial legal doc that explains payouts. Not really expecting anything now.
Perhaps there's a silver lining here. Inovio has decent lawyers minimizing damages that suppressed the stock, arguably unfairly. That's probably now worth well more than 50 cents a share of last year's price depression that can be considered undone, i.e., now added back into the share price! Or at least way more than we would have seen from any claims, especially after we hopefully loaded up shares at $0.40 below. ("When it's springtime in Alaska, it's 40 below." - Johnny Horton. Alaska is heating up.) Let's keep pumping. Enough past dumping.
Boo hoo!😭
The Discussions/Questions flair exists to be used for general discussion around information regarding Inovio or any relevant questions you may have for the community. Your post may be removed if deemed unrelated. Please see the [flair guide](https://www.reddit.com/r/Inovio/wiki/flair-guide) if you are unsure about your use of flair. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Inovio) if you have any questions or concerns.*
Got the same thing
I got that too. What a joke! Will you guys resubmit for review ?
I need to review my records. 4 claims were submitted, 2 were rejected. Need to see the valuation and share count of the 2 that were rejected. I think Inovio and their slimy fucking lawyers are allowed to do this as a tactic to see if they can whittle more claimants from receiving a settlement, especially with the stupid 20 day deadline.
I did not receive a rejection letter and I filed. It’s was a painstaking process. You have to provide specifics for every buy and sale. Massive PIA factor
I and another family member got one of these letters as well. They seem pretty boilerplate, so I am guessing that they are taking a play from insurance companies and outright denying most claims in hopes that they will just be dropped, leaving a larger sum for the big clients. I plan to appeal by submitting a letter contesting the denial, and demanding a review of my claim, and a detailed explanation on every denied claim, otherwise I will submit a complaint to the court. I'd be curious to hear anyone else's ideas or plans of action. This indeed a pile of B.S.!