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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 |
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Accugrade Case....We'll Never Know
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. |
#3
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Accugrade Case....We'll Never Know
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." |
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Accugrade Case....We'll Never Know
"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) |
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Accugrade Case....We'll Never Know
"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. |
#6
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Accugrade Case....We'll Never Know
"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 |
#7
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Accugrade Case....We'll Never Know
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/ |
#8
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Accugrade Case....We'll Never Know
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 $$ millions in damages Acugrade sought, put apparently acceptable to the Hager's. If I had been one of the final defendents, I would have not wanted to settle either, but I was dropped out of the suit earlier as were many here on RCC and elsewhere. I'm sure the settlemet was a practical conclusion, and probably accompanied with guarantees that the defendants would not pursue countersuits for frivilous litigation or somesuch. Ira |
#9
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Accugrade Case....We'll Never Know
On Sun, 24 Jun 2007 06:24:29 -0700, Ira wrote:
This is unofficial, and considered heresay, but what I was told by one of the defendants is that the necessary documentaion needed and depositions required to go forward to trial would have exceeded $1,000,000 in costs to the insurance companies, so that these companies representing the major defendants wanted to settle if it could be managed, even though the defendents wanted to go to trial. I was told (this is not corroborated or confirmed in any way) that the financial settlement was in the $300,000 range, of which Accurade's att'y kept 1/3 as well as past due out of pocket legal expenses for which Accugrade owed his att'y expenses to date (est $50,000). So my guess, and this is only a guess, is that the Hager's wound up with around $150,000-$175,000 after all was said and done. A far cry from the $$ 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/ |
#10
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Accugrade Case....We'll Never Know
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 |
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