They aren't. The lawsuit is really being filed by lawyers hoping to get a windfall. They don't even need to have much of a case, at worst Zoom will pay their fees and more for the nuisance to go away.
However, they do need to pretend for the court that this more than just a lawyer led money grab and that they actually represent the interest of a plaintiff. Enters Michael Drieu. If you read the complaint [1] you'll see Michael Drieu claim damages of ... $300. He's basically enabling a shakedown out of either malice or stupidity but not greed.
So no, it is not as if the shareholders of Zoom were up in arms against the company, this is just ambulance chasing with a puppet plaintiff.
> Enters Michael Drieu. If you read the complaint [1] you'll see Michael Drieu claim damages of ... $300. He's basically enabling a shakedown out of either malice or stupidity but not greed.
Those are pretty strong statements for an 11 minute old account.
Dang, you can go ahead and scold me for insinuations of shilling. I just can't help myself.
I have an older account, and agree with the parent. Shareholder lawsuits against companies simply transfer money from the company to the lawyers, and to shareholders who sold their stock between discovering the fraud and disclosing it. Shareholder lawsuits against executives would be a better way of policing fraud, but they are uncommon, likely because they are not as lucrative for lawyers.
However, they do need to pretend for the court that this more than just a lawyer led money grab and that they actually represent the interest of a plaintiff. Enters Michael Drieu. If you read the complaint [1] you'll see Michael Drieu claim damages of ... $300. He's basically enabling a shakedown out of either malice or stupidity but not greed.
So no, it is not as if the shareholders of Zoom were up in arms against the company, this is just ambulance chasing with a puppet plaintiff.
https://www.scribd.com/embeds/455562311/content?start_page=1...