Is Slater & Gordon going Broke?

I don't think there will be too many Medico's in tears about that .

Cliff

 

Better for you Daryl, you can pick up the clients!

 

What is your take on it all as a GP Clifford? A lot of bogus claims? When I was in the building game I had to deal with a lot of dicey compo claims, really gives you a new perspective on humanity...

 

http://www.asx.com.au/asxpdf/20151126/pdf/433b2jz846q3gs.pdf

It's only down just under 25% today,another few days like this and there will be a lot of high end legal people sitting in the river front drinking holes thinking what happened and so quick..

 

Personally I think they need to take it out of the field of litigation , but then again that's at the basis of the legal system ......

My understanding is that the origins of the legal system dates back to the times when you could have a " champion " defend your right in a battle , but the powers that be realised that if two champions fought , the realm was likely to loose one champion for future battles on behalf of the realm . So they resorted to having verbal battles with each side represented by a verbal champion in front of a jury or their peers

Reality is that it is still a verbal battle , and who wins isn't necessarily determined by the truth , so basically I have a problem with the underlying premise of the legal system .

I'm waiting for " mind probes " so we actually know what happened ....

I think the no win , no pay makes it too easy for people to have a go

Cliff

 

This pretty much says it all.....................
".............In recent times, the class actions the firm was once famous for have become few and far between.

But, it is possible that Slater and Gordon could soon be at the centre of a class action again — this time as the defendant."

 

If we didn't have lawyers, we wouldn't need so many lawyers.

No win, no pay, sounds reasonable in theory and to a degree it is. However a lot of rubbish claims are settled out of court because it's cheaper to pay than to defend. There's a lot of people out there who look for someone to blame the moment things don't go their way.

 

I dont deal with lawyers that much, but unless they ve had some major negative publicity Idont think its a declining sector,

it seems like a bullet proof business once you get a good reputation

 

Their chart is indicating that they are either close to being a good buy......or they are close to going bankrupt. But taking a long term bet/investment isn't wise.

I have traded companies like these in the past......both as a long term investor and a day trader. When there is doubt about a company's long term viability, buying their shares for a long term hold isn't a wise.

If you're not a day trader, it is best to just sit on the sidelines and wait to see if they can pull it together. You may not get the best price by taking this approach, but you will avoid losing all your money on this kind of puppy.

However, this isn't new news. I stumbled upon their current woes a few months ago when I was trying to pull together resumes for my job search in the US.

 

Happens all the time. Win some lose some.

I used to work for a large consulting firm who got bought out for an astronomical price. The partners made a motza, paid mostly in shares, which they couldn't sell for a minimum of a few years. Dot com crash came along, and the shares fell by more than 90%.

 

Would be happy to see an ambulance chaser go under.

If they did I'm sure there would be plenty of other firms pick up their business anyhow, and many new small businesses created and expanded.

Props to the UK government for standing up to these sorts of claims. I wish our government had the same fortitude.

 

So they're successful?

 

+1. I have been on the receiving end of one of the thousands of ambit claims brought about every day by these opportunistic cockroaches. Can't go into the details other than to say I will have a quiet little cheer if they go legs in the air. Some might call it karma.

 

The decline in their price this week from my understanding is because the uk changed their laws regarding litigations under x amount of pounds, thus cutting out a market for S&L therefore their earning potential.

I still think there may be merit in them as a medium term stock. Market has overreacted. If stocks are your thing that is...

 

Same. Couldn't agree more.

 

I have a friend who refers to the firm as 'sluts and guts'... Some sort of ambulance chasing reference I am lead to believe..

 

Apparently the market took the old saying "How do you stop a lawyer from drowning? Take your foot off his head." somewhat literally.

But just not yet.

 

It's starting to trend upwards again..