Or they're just greedy and looking for a quick settlement, like all other class action securities attorneys do when the sue over large stock price drops. These types of suits are filed daily, many of them without merit.
For a fascinating look at Bill Lerach, the lawyer who perfected this tactic, check out [1]. He squeezed so much money out of public companies and caused so many problems with these often ridiculous lawsuits, that Congress passed a bill limiting them that became known as the "Get Lerach Act". He eventually went to federal prison for paying kickbacks to plaintiffs.
Or they're just greedy and looking for a quick settlement, like all other class action securities attorneys do when the sue over large stock price drops. These types of suits are filed daily, many of them without merit.
For a fascinating look at Bill Lerach, the lawyer who perfected this tactic, check out [1]. He squeezed so much money out of public companies and caused so many problems with these often ridiculous lawsuits, that Congress passed a bill limiting them that became known as the "Get Lerach Act". He eventually went to federal prison for paying kickbacks to plaintiffs.
[1] https://www.youtube.com/watch?v=wYIC9GU9OeM