Accugrade Case....We'll Never Know

Apparently the latest lawsuit resulted in a confidential settlement:

http://asa-accugrade.com/index.php?o...d=6&Itemid =2

On May 26, 6:40 pm, Phil DeMayo wrote:
Apparently the latest lawsuit resulted in a confidential settlement:

http://asa-accugrade.com/index.php?o...ask=view&id=6&...

Still out there eh? So much for capital markets driving out bad
businesses.

Jorg Lueke wrote:

Still out there eh? So much for capital markets driving out bad
businesses.

The part I liked best is where it says "The settlement had no impact
on the ANA's finances or budget."

"Jud" wrote in message
ups.com...

Jorg Lueke wrote:

Still out there eh? So much for capital markets driving out bad
businesses.

The part I liked best is where it says "The settlement had no impact
on the ANA's finances or budget."

And yet Hagar is perfectly happy with the result!

No monetary compensation... has anyone heard any abject apologies from the
defendants?

--
Jeff R.
(curiouser and curiouser)

"Jeff R." wrote:

The part I liked best is where it says "The settlement had no impact
on the ANA's finances or budget."

And yet Hagar is perfectly happy with the result!

No monetary compensation... has anyone heard any abject apologies from the
defendants?

I wouldn't assume no monetary compensation -- the blurb does include
the line "together with their insurance carriers."

--
Michael Benveniste --
Spam and UCE professionally evaluated for $419. Use this email
address only to submit mail for evaluation.

"Michael Benveniste" wrote in message
...
"Jeff R." wrote:

The part I liked best is where it says "The settlement had no impact
on the ANA's finances or budget."

And yet Hagar is perfectly happy with the result!

No monetary compensation... has anyone heard any abject apologies from
the defendants?

I wouldn't assume no monetary compensation -- the blurb does include
the line "together with their insurance carriers."

--
Michael Benveniste --
Spam and UCE professionally evaluated for $419. Use this email
address only to submit mail for evaluation.



How 'bout we move on...

-Ron Buelow

On 26 May 2007 16:40:51 -0700, Phil DeMayo wrote:

Apparently the latest lawsuit resulted in a confidential settlement:

http://asa-accugrade.com/index.php?o...d=6&Itemid =2

Whatever it was no one is talking to me either. A little late but for anyone keeping track.
--
K6AZ Forum

http://www.k6az.net/forum/

On Jun 24, 5:53 am, K6AZ wrote:
On 26 May 2007 16:40:51 -0700, Phil DeMayo wrote:

Apparently the latest lawsuit resulted in a confidential settlement:

http://asa-accugrade.com/index.php?o...ask=view&id=6&...

Whatever it was no one is talking to me either. A little late but for anyone keeping track.
--
K6AZ Forum

http://www.k6az.net/forum/



This is unofficial, and considered heresay, but what I was told by one
of the defendants is that the necessary documentaion needed and
depositions required to go forward to trial would have exceeded
$1,000,000 in costs to the insurance companies, so that these
companies representing the major defendants wanted to settle if it
could be managed, even though the defendents wanted to go to trial.

I was told (this is not corroborated or confirmed in any way) that the
financial settlement was in the $300,000 range, of which Accurade's
att'y kept 1/3 as well as past due out of pocket legal expenses for
which Accugrade owed his att'y expenses to date (est $50,000). So my
guess, and this is only a guess, is that the Hager's wound up with
around $150,000-$175,000 after all was said and done.

A far cry from the $$ millions in damages Acugrade sought, put
apparently acceptable to the Hager's.

If I had been one of the final defendents, I would have not wanted to
settle either, but I was dropped out of the suit earlier as were many
here on RCC and elsewhere. I'm sure the settlemet was a practical
conclusion, and probably accompanied with guarantees that the
defendants would not pursue countersuits for frivilous litigation or
somesuch.

Ira

On Sun, 24 Jun 2007 06:24:29 -0700, Ira wrote:

This is unofficial, and considered heresay, but what I was told by one
of the defendants is that the necessary documentaion needed and
depositions required to go forward to trial would have exceeded
$1,000,000 in costs to the insurance companies, so that these
companies representing the major defendants wanted to settle if it
could be managed, even though the defendents wanted to go to trial.

I was told (this is not corroborated or confirmed in any way) that the
financial settlement was in the $300,000 range, of which Accurade's
att'y kept 1/3 as well as past due out of pocket legal expenses for
which Accugrade owed his att'y expenses to date (est $50,000). So my
guess, and this is only a guess, is that the Hager's wound up with
around $150,000-$175,000 after all was said and done.

A far cry from the $$ millions in damages Acugrade sought, put
apparently acceptable to the Hager's.

If I had been one of the final defendents, I would have not wanted to
settle either, but I was dropped out of the suit earlier as were many
here on RCC and elsewhere. I'm sure the settlemet was a practical
conclusion, and probably accompanied with guarantees that the
defendants would not pursue countersuits for frivilous litigation or
somesuch.

Ira

Hey Ira, thanks for relaying that unofficial information. It's pretty much what I surmised was
the case. It's the unfortunate reality of our legal system today.

With the developments over the last couple of years in the coin world I've often thought
that the entire situation in regards to ACG was just the tip of the iceberg. I became so
disillusioned that I sold off most of my high dollar coins, I only have a few high end gold
pieces left and will most likely consign those to an auction house. My coin activities as of
late have been circulated US type and some specific areas of world coins. It's much less
expensive.
--
K6AZ Forum

http://www.k6az.net/forum/

K6AZ wrote:
On Sun, 24 Jun 2007 06:24:29 -0700, Ira wrote:

This is unofficial, and considered heresay, but what I was told by one
of the defendants is that the necessary documentaion needed and
depositions required to go forward to trial would have exceeded
$1,000,000 in costs to the insurance companies, so that these
companies representing the major defendants wanted to settle if it
could be managed, even though the defendents wanted to go to trial.

I was told (this is not corroborated or confirmed in any way) that the
financial settlement was in the $300,000 range, of which Accurade's
att'y kept 1/3 as well as past due out of pocket legal expenses for
which Accugrade owed his att'y expenses to date (est $50,000). So my
guess, and this is only a guess, is that the Hager's wound up with
around $150,000-$175,000 after all was said and done.

A far cry from the $$ millions in damages Acugrade sought, put
apparently acceptable to the Hager's.

If I had been one of the final defendents, I would have not wanted to
settle either, but I was dropped out of the suit earlier as were many
here on RCC and elsewhere. I'm sure the settlemet was a practical
conclusion, and probably accompanied with guarantees that the
defendants would not pursue countersuits for frivilous litigation or
somesuch.

Ira

Hey Ira, thanks for relaying that unofficial information. It's pretty much what I surmised was
the case. It's the unfortunate reality of our legal system today.

With the developments over the last couple of years in the coin world I've often thought
that the entire situation in regards to ACG was just the tip of the iceberg. I became so
disillusioned that I sold off most of my high dollar coins, I only have a few high end gold
pieces left and will most likely consign those to an auction house. My coin activities as of
late have been circulated US type and some specific areas of world coins. It's much less
expensive.
--
K6AZ Forum



Hi Eric,

I'm sure you're referring to the proliferation of worthless, junk
grading companies that seem to dominate both eBay auctions as well as
small 25 or dealer local coin shows.

There are always folks looking for a "bargain," and many ofthose
bargain sekers will be fleeced by the selelrs of this crap. I no
longer let it bother me, as I can't do anything about it.

If someone writes or asks "Ira, what do you think of "XYZ" grading
company?"...I answer that in order of prefernce for accuracy and
grading guarantees, I stick with PCGS and occasionally NGC.

Period. I tell them that I don't deal with any of the others. Then
they can decide what they want to do. No one will sue me for saying or
writing such a response. If they do, f..k 'em.

At a show, when I see thhat crap in a dealer's case, I just walk by
without
comment. If they ask me if I see anything I like, I don't lecture
them. I just say that I won't do business with ANYONE that makes a
market in that crap. That's all. That's my prerogative.


Ira