Thread regarding Nike Inc. layoffs

I would like my refund from all the money I invested in our stock because you all said CDA was working!! But you lied!!! Then you knew it was a lie and you quickly sold your stock to line your pockets! Shameful

I was close to this in Global ND and know some of these witnesses. This is all true.
Indictment TL:DR - Senior execs sold $250 million of stock whilst declaring to Wall St that everything was going just fine whilst being repeatedly told by underlings that it was a disaster.

That’s not OK. At the very least it is a public accounting of incompetence.

But how does a lawsuit about a toxic culture hold up?

@RedPillSupreme is the perfect example of the toxic culture. He may have direct reports, lead a team or even have a title that starts with a C. He may sometimes spew this kind of racist s-xist classist nonsense out loud and think we didn’t hear him.

Would love to see JD, AC and MF’er held accountable.

It’s called Hanlon’s Razor:

"Never attribute to malice what can be adequately explained by incompetence.”

@bj+1jr0qftqj

Probably mostly true, but "bad bet" isn't quite right in this case. On the one hand, astute investors should have been able to deduce that NKE's Covid-19 blowout sales were due almost entirely to lockdowns and idle hands receiving welfare checks.

On the other hand, NKE repeatedly lied about the cause of DTC growth on investor calls. So it was graft papered over with lies.

It's one thing to grift by accident; it's another thing to methodically draw out more money from retired folks by lying about whether or not you're grifting.

Really not that interesting. Standard class action fare:

1. A company’s fortunes turn.

2. People who lost a lot of money get mad that they made a bad bet.

3. They sue alleging the company’s downturn is due to fraud, when in reality it’s due to classic, garden variety incompetence.

4. Some angry, laid off employees added their own spin to add an air of credibility to the lawsuit.

5. The lawyers are looking for an insurance-funded settlement for which they will keep 1/3 of the proceeds. And Nike WILL settle because it’s cheaper to do that than be in litigation for the next seven years.

While class action lawsuits are sometimes necessary and valid, for the most part it’s an area of law that could be best described as a “high-end, professional shakedown”. A good class action litigator can make your sweet, church going Grandma Mildred look like a crack-addled $10 street wh--ee.

Just ask my Grandma Mildred!

Thanks for sharing. Wouldn’t it be great to see JD, AC, MF, and the supply chain leaders involved be forced to testify. And also bring to light what role Bain played in the CDA debacle.

Ambulance chasers, unless you’re pushing 6 figures in stock value (NKE) they ain’t interested.