IT'S HAPPENING !!! ------- Diebold being sued in CLASS ACTION SUIT!!!!

[Justice Is Comin]

You may not believe this, but this afternoon about 4 hours ago, I was going to start a thread with the title Why can't we sue Diebold with a class action suit.

And here it is !!!!

http://www.bradblog.com/archives/00002126.htm


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Blogged by Brad on 12/7/2005 @ 12:28pm PT...

EXCLUSIVE: POTENTIAL SECURITIES FRAUD CLASS ACTION LAWSUIT AGAINST DIEBOLD IN PROGRESS!
Documents and comments provided by Company Insiders suggest Diebold could be the next Enron as All-New Legal Troubles Mount for Voting Machine Giant...
Additional Individual, Union Owners of Diebold Stock, Mutual Funds Sought for Addition to Plaintiff Class

The BRAD BLOG has received exclusive detailed information about a developing potential class action securities litigation against Diebold, Inc. (stock symbol: DBD ). The class for the suit will involve...

The BRAD BLOG has received exclusive detailed information about a developing potential class action securities litigation against Diebold, Inc. (stock symbol: DBD). The class for the suit will involve shareholders who purchased or owned stock in the Ohio-based company any time from October 22, 2003 though September 21, 2005.

Though we are not at liberty at this time to discuss the specifics of the potential litigation and the causes of action in the complaint being compiled, The BRAD BLOG has learned that the class action lawsuit, currently being drawn up, will involve securities fraud violations and other troubling matters for the controversial company, its CEO as well as current and former members of its Board of Directors.

VelvetRevolution.us (an organization co-founded by BRAD BLOG managing editor, Brad Friedman) is seeking additional individuals and groups who may qualify as plaintiffs in the specified class. Those who owned or purchased Diebold stock, or mutual funds which carried Diebold during the period mentioned, are asked to contact [e-mail] where information submitted may be turned over to attorneys for possible addition to the plaintiff class.



:woohoo::applause:

[fooj]

1. Yippee!!!!!!!!!

:woohoo: :woohoo: :woohoo:

Peace.

[aura]

36. LOLOLOLOL

pretty funny!!!!!!!!!!!!!

:dem: :kick:

[adarling]

2. MORE INFO!@

if this is true than holy crap batman!!!!!!!!!!!!!

[helderheid]

3. K & R YES!!!!!!!!!!!!!!!!!!!!!!!!!

[NanceGreggs]

4. Hope this case makes it to trial ...

... also hope the jury isn't asked to cast their votes on a touch-screen machine!

[OPERATIONMINDCRIME]

5. That's Awesome! But it isn't related at all to stolen elections right?

No matter, any negative publicity for diebold is FINE by me :applause:

[Sanity Claws]

8. Maybe tangentially

I don't know what the suit is about so I'm speculating based on my knowledge of securities fraud cases in general. A lot of securities fraud cases involve false statements in prospectuses. Could a class action be based on false statements regarding how the machines work or their accuracy?

[lfairban]

47. This could have something to do with it:

“Shortly before the election, ten days to two weeks, we were told that the date in the machine was malfunctioning,” the source recalled. “So we were told 'Apply this patch in a big rush.’” Later, the Diebold insider learned that the patches were never certified by the state of Georgia, as required by law.

http://rawstory.com/news/2005/Diebold_insider__alleges_company_plagued_1206.html

If this does not give the shareholders the right to sue, it does give them grounds to get very upset.

[Justice Is Comin]

10. Sure it will get into the black boxes.

Securities is only a basis to bring the lawsuit and all the dots will connect. Discovery cannot be avoided in a civil case. The defendant must produce whatever the attorneys ask for in interrogatories.

This is how most criminal trials that end in acquital finally get their justice because of the lower standards for proof and the huge allowance for discovery. Plus, any principals wanted for examination must testify or take the fifth.

This is the beginning of the END for these mothers. :bounce:

[Xithras]

42. Not if it's trade secret.

If the defendant objects to making evidence public because it would eliminate trade secret status, the judge can either ask the plaintiffs to show a direct linkage between the evidence and the case, or hold a closed hearing to determine its fitness for trial. I highly doubt that source code will qualify as evidence of securities fraud.

[AuntiBush]

6. Yip-pee! Clusters Are Turning Alright!

Hee...He...!

When it rains it really does pour. Looks like they're reaping what they've sown.
It's about time.

Thanks VR & Brad!!!

[Cleita]

7. I'm not uncorking the champagne yet untill there is actually

a hearing, but I hope it happens. Potential still isn't concrete enough for me.

[ClayZ]

9. It is beginning to look alot like .....sane people

are taking charge.:bounce:

[goclark]

16. Oh Happy Day Hurry,hurry!!!

What can we do to be supportive of the SUIT!!?

[PatrioticLeftie]

11. That's fantastic!

The sooner thoese cheats are out, the better it is for our country.

[hippiegranny]

12. this would be BEST "holiday" gift of all!

This could be bigger than FITZMAS!!!

[helderheid]

13. kick!

[nicknameless]

14. THANK GOD !!!!!!!!!!!!!!!!!!!!!

MOST EXCELLENT NEWS !!!!!!!!!!!!!!!!!!!!!!!

[in_cog_ni_to]

15. Thank You! Thank You! Thank You!

I hope they GO DOWN by 2006!:bounce::bounce::bounce::bounce::bounce:

[FreedomAngel82]

17. Oh gosh!

Wow! Good luck! Please get these assholes who stole my democracy!!!

[Tactical Progressive]

18. Now if only the mainsleaze media

could understand how the integrity of American elections is more important than a puny fifteen-year old real-estate investment or the marital infidelity of a Democrat that their fellow right-wingers happen to hate.

At least, I think it is.

Maybe I'm wrong. I'll try to keep an open mind.

[Nicole]

19. This made my day!

[MelissaB]

20. Please recommend Brad's thread, too.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x1972438

:applause:

[Justice Is Comin]

46. You bet.

[blue4barb]

48. Done with pleasure. :-)

[MelissaB]

56. Thanks Justice Is Comin and blue4barb!

:hi:

[Justice Is Comin]

21. This is what I was starting to look up this afternoon.

I couldn't understand why Diebold couldn't be brought to their knees with a civil complaint action filed against them for fraud. I was even going to suggest contacting an attorney and seeing if we could put a grassroots campaign together with small donations to compensate an attorney to file the complaint.

I couldn't believe my eyes when I saw my wish had come true. Here is some of my work product when I was researching to propose this.



What type of cases are appropriate for class actions?

Class actions are often used to seek monetary damages and other relief resulting from violations of the anti-trust laws (such as price-fixing conspiracies and monopolization cases), securities law violations (such as fraudulent financial statements and market manipulation), consumer fraud, human and civil rights violations , employee benefits disputes, and environmental, toxic and other mass torts (including oil spills, defective products and defective drugs and medical devices). The attorneys representing the lead plaintiffs in effect serve as "private attorneys' general" to assist in the enforcement of Federal and State laws, by representing large numbers of persons injured.

If I can contribute to this, count me in. Anybody with me. Ten dollar donations add up when you multiply them by 20,000. This is the best news of 2005. I didn't pick my name for nothin'. :woohoo:

[FreedomAngel82]

22. Just me wondering but

is David Cobb and/or Cliff Arnebeck involved?

[KerryOn]

23. I would not get my hopes up yet.

I don't think this means a thing.
Nothing to see here in my opinion.

[Kurovski]

24. What specifically leads you to believe that?

What has helped to form your opinion?

I can understand not getting ones "hopes up", but I'm curious as to why you find it meaningless.

[KerryOn]

63. Because...

None of the lawsuits to date have gone anywhere, and there have been several of them. This appears to be a civil suite that will accomplish nothing. Maybe some Diebold officer will get nailed for insider trading or something, but I see nothing here that indicates election fraud.

I guess we can just wait and see.

[Justice Is Comin]

26. Oh brother. I've heard it all now.

This is bigger than the Libby indictment. I wouldn't want to even guess what it would take to excite you. Just enjoy the ride then because it's going to be very exciting for most of us.

[KerryOn]

64. See post 28 and 63...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=104&topic_id=5540574&mesg_id=5551132

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=104&topic_id=5540574&mesg_id=5541232

[Joe Chi Minh]

29. "Nothing to see here in my opinion".

Yep. Pass along.

[KerryOn]

65. See post 28 and 63...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=104&topic_id=5540574&mesg_id=5551132

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=104&topic_id=5540574&mesg_id=5541232

[undeterred]

25. I would like to be awarded my president!

[FreedomAngel82]

39. Me too!!

Would be the perfect gift and in time for Christmas eve. Can he wear a nice bow on his head and we can open him up?

[undeterred]

40. I would dance naked in the streets of DC for President Kerry

If it were a little warmer I would!

[Zomby Woof]

41. Class action suits do not have big payoffs

Except for the lawyers. They are more symbolic than anything.

No real change from Diebold will come of this.

[feelthebreeze]

27. If this is too have traction, then...

The MSM must pursue this and plant awareness and doubt into this sleepy armchair public that "We" have become. We need to push this out to them. Do it for North Carolina, Ohio, California, New York and all the other states that have been raped by these Touch Screen Voting systems with no traceable code, no paper trail from an independent machine. We must begin the chant of PB(paper Ballot)/OS (Optical Scanner) now! I will await a little more info and then I begin the media blitz. If you have not done so already, go to the velvet revolution site and see how you can help.

If it is a good enough site for John Conyers, it is good enough for you.

[johnnyburma]

28. Strike suit

Hate to burst your bubble, but every time there is a substanitial drop in the price of any stock, a suit is filed seeking damages. Some have sound basis - most are strike suits by law firms that specialize in such suits.

[Ladyhawk]

31. What leads you to conclude this? n/t

[johnnyburma]

37. See my post below

That and 7 years formerly spent as a corporate and securities attorney.

[Joe Chi Minh]

32. Don't worry. Negative posts have nearly always, if not always

proved wrong. In this case, there are Diebold workers testifying and the charges are unlikely to be piffling.

[Justice Is Comin]

38. You're not bursting my bubble,

my bubble is fine after learning this. Just fine. No, actually extraordinarily, gloriously, stupendously and stupefyingly fine.

[Ladyhawk]

30. Glad to hear this! Is there any way we can help Velvet Revolution?

They're taking on a corrupt corporation. I hope they have good lawyers.

[BamaBecky]

33. kick

[aura]

34. Yipeee!!!!!!

Thank the stars above.

Great news!!!

[johnnyburma]

35. To continue my previous post

I looked up the history of Diebold's stock. The suit involves purchasers of the stock from Oct. '03 (when stock at a high of @57 points) through Sept. '05 (when the stock precipitously dropped from @47 to 37 points). Clearly a suit only aimed at recovering shareholder losses.

[Justice Is Comin]

43. If you believe that,

Santa is a terrorist.

This is a way in!! There has to be a cause entree, just like there was for En-ron.

This is going to blow wide open. It will interlock with the GAO report, it will bring forth possible new whistle-blowers, it will certainly result in deposing the corporate executives from the top down. Fear within the hierarchy will be rampant, it will cost the company a fortune to attempt to defend it, the stock will continue to tank. As public news advances the enormity of this suit, media will be forced to report on it.

There is no restriction for relevance in depositions. This information will be taken under oath. Any information gathered may also be shared with other parties of co-interest, government authorities.

Why do you think the period of August 2003 through September 2005 was specified as the target period? Because this puts the 2004 election right in the middle of it, that's why.

This is the beginning of the end. Watch and see how this mushrooms.

[johnnyburma]

61. Because the 2004 election is right in the middle?

Brilliant!

[Xithras]

44. This is a strike suit folks, it all about overhyping stock.

That's what securities fraud is, it's about defrauding stockholders. Strike suits are common and the trial will revolve only around whether or not their earnings projections were knowingly inflated. Even if they lose, they'll just have to pay some damages to their stockholders and pay off the attorneys. I don't think there's ever been a company that's folded because of a strike suit.

The only other possibility is an insider trading charge, which would have the same results but which could also get them penalized by the NYSE. Again, not a big deal unless you can get the DoJ to follow it up with a criminal prosecution of the individuals involved. Now what, I ask, are the odds that our Republican dominated government is going to prosecute DIEBOLD execs?

[johnnyburma]

60. Forget it Xithras

They don't want to hear it. I told them the same things above.

[KerryOn]

66. You summed it up very good...

I seem to be getting flamed, because I told them in my post not to get their hopes up, and that there was nothing to see.

I agree, that the worst that can happen is that some Diebold official MAY get caught for insider trading or something, but the law suite has nothing to do with voter fraud, which is the real issue.

Good post.

[librechik]

45. Oh goody! Subpoena power! Discovery!

even if a crooked judge tosses it out (it is OH, after all) we can still damage them and expose them in the media. A court case provides real news events (court appearances) not just some story, so they can cover it!

If it stays alive, this could be big

[Peace Patriot]

49. When CA Sec of State Kevin Shelley sued Diebold (for lying about

the security and certification of their touchscreens), and decertified their machines for the 2004 election, they came after him--a very dirty campaign led by the corporate media in Calif., and by L.A. elections head (and Dem) Connie McCormack and a group of county election officials, all pro-Diebold, many Repubs, who apparently liked all that lavish lobbying Diebold does, and who were pissed off that they couldn't deliver their counties to Diebold in return. Shelley also withheld HAVA funds for the purchase of shoddy, insecure, uncertified voting machines, and, in the early news reports of the charges against Shelley, this was described as "misuse of HAVA funds" (--made it sound vaguely criminal, when he was just doing his job). Further, Shelley demanded Diebold's source code, in the course of the lawsuit.

Shelley had no money to defend himself (tells you something about Shelley)--no legal fund, no personal money--and when the EAC (Bush apppointed) threatened to come after him, and the new Democratic leadership of the CA legislature withered in fear (or corruption--hard to know) and gave him no support, he decided to resign, though the charges that were lodged against him turned out to be nothing. All vapor (like the "misuse of HAVA fund.)

Now we have a pro-Diebold, Schwarzenegger APPOINTEE as Sec of State, Bruce McPherson, who is pulling all kinds of public process shenanigans to get Diebold's worst election theft machines re-certified in Calif.

There is a lot at stake here, not only billions of dollars, but also probable fixing of the 2004 election (and 2002 as well). They will be vicious. They will pull every trick in the book, and then some, to avoid any "discovery" situation, and worm out of this lawsuit. Diebold's false claims, lies and deceptions about its voting systems most certainly have contributed to the decline in its stock. I imagine that the filers of the lawsuit know all of this. Just to remind us all. This is no mere stockholder suit, although it may look like that at first glance. I suspect that Diebold is one of the dirtiest companies in the US, very like Enron, and that it will eventually be tied in with Abramoff, Delay, Ney, Cunningham and the entire gang of master thieves and crooks that have been running the Bushite Republican Party--a scandal that may end up tainting some Democrats as well (who have been corrupt/collusive on the $4 billion HAVA electronic voting boondoggle.)

I am basing this analysis on what they did to Kevin Shelley, when he went after them for their lying. They destroyed him for his lawsuit and de-certification (and, I'm sure, didn't want to disclose their source code either--the "smoking gun"?). I have never seen anything like this in Calif., except for the destruction of Sup Ct Chief Justice Rose Byrd many years ago. The nastiness of it was extraordinary. I have never been so afraid for my country as when this happened, because I think that the people who stole the 2004 election--the Bush Cartel--have their fingers, like an octopus, in our entire political/government system, AND corporate news system, such that they can pull off a "black ops" hit like this on almost anyone, and have extortion and bribery ("black dossiers") and even death threats hanging over a lot of people.

I am still open-mouthed with astonishment at what they did to Shelly. All because of Diebold.

[EFerrari]

53. I don't know if you saw this, but when I asked the Chronicle's

Reader's Rep why they haven't published a story reporting that the AG has cleared Kevin, he told me 1) the AG has not cleared Kevin and 2) an update was overdue.

I thought that was very strange.

[W stands for Wacko]

58. Republican Neo-con enablers have an endless supply of taxpayer money.

Whether the stock price is 1 cent or lower will not be a determinant of the continuance of their reliance on the corruption behind the vote and corruptible e-voting machines, IMO.

This is one stock that performs in ways that its market price will never reflect.

[The Backlash Cometh]

50. Reckless, reckless Republicans.

This is as stupid as pulling stock bets from the airlines right before 9/11. What arrogance.

[stevietheman]

51. Yes!!! Diebold must DIE in a BOLD way! n/t

n/t

[meow2u3]

52. HOLY BLACK BOX, BATMAN!

Liebold got caught with its criminal fingers in the cookie jar! There's hope, after all!

[Wilms]

54. kick n/t

[freedomfries]

55. kick & rec

[W stands for Wacko]

57. Shareholder initiated class action lawsuit? Don't get your hopes up.

"POTENTIAL SECURITIES FRAUD"

You must ask yourself: Why is the SEC asleep on this?

If this is a credible threat to LieBold based on evidenced violations of Securities law then it is welcome news, but if it is just a smear campaign or an allegation that will ultimately appear to be a smear campaign, then it ultimately lessens the impact of a great deal of important anti-LieBold activism nationwide, IMO.

The last thing I want to see is the crud at LieBold get to appear as victims!

[novak goes postal]

59. kick n/t

[stepnw1f]

62. Where are those Pro-Death Tookies?

I didn't think they were on Our side. Funny how they post in threads to bash, but never seem to praise moments such as these.

[Little Star]

67. Justice Is Comin

Justice Is Comin, Justice Is Comin, Yep Justice Is Comin! Yippie!
:bounce: