what to do with my loosing investment in LITL.PK.?

Question

Late last year and early this year i purchased a few thousand shares of L International computers. Turns out this company is a sham and share prices have gown down constantly. I have lost a few thousand dollar in it. What should i do now ? sell it and realize this loss. can i sue them or someone ?

Answer 1

Joel Aberman wrote a nice summary, you can see it here: http://ezinearticles.com/?High-Flying-Stock:-L-International-Computers,-Inc.-The-Next-DELL?&id=290890

Things like that happen all the time. I bought into ISSM (Integrated Surgical Systems), thinking it was ISRG (Intuitive Surgical). I went to the website, robodoc.com, and read a lot about what they supposedly do. I saw that they supposedly made a great sale, turned a real good profit and paid off all of their debt. What I didn't see, though, was that they (ISSM) sold out their business and sometime next summer, if they don't figure out what they want to do next, they will dissolve the company.

Your company was even less honorable than that, sorry. I still have 8 shares of NVPM on my books, it will cost me more to sell than they are worth. Originally, I bought into a VOIP company, sold to businesses, made a profit. Then they sold their operation. My "Yeah!" turned in to "Huh?" then into "Hey!"--it seems I hadn't paid attention to the stock classes. The real money went to a higher stock class. I was left holding shares in an empty shell. Then, insult to injury, they did a massive reverse split and sold the shell (for reasons no one knows or will bother to admit to) to a tin mine in Nevada, which changed its name to Nevstar Precious Metals. So now I have 8 shares, supposedly worth a half-cent apiece, which turned a few hundred dollars into four pennies because the critical events took place when I was sick and out of town. When the dust settled, I thought, maybe they just might find something. Nowdays, it is a reminder everytime I look at my portfolio--YOU'VE GOT TO WATCH YOUR BUSINESS!

Fortunately, for these little odd companies, I only put a small piece into them, so I haven't lost a lot in the broader picture. See that you don't 'bet the farm' on stuff like LITL in the future too, okay? This will be your reminder.

Answer 2

Just take the loss and move on. There may be some lawyer that is going to file a class action suit against them. But those usually arent worth your time to fill out the paperwork. The lawyers make all the money and you end up with a fifty cent coupon the Arbys or something. Never buy pink sheet stocks.

Answer 3

I feel your pain. I have some Home Depot stock that they offered to buy back from me (at less than I paid), I didn't do it and now I'm thinking about just waiting it out.

Never heard of L International. Is it really a sham or just down in numbers?

Answer 4

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Answer 5

First of, there's never a guarantee that your investment will go up. There's always a risk. So your potential law suit would go nowhere.

Second, your selling point should be determined by how much you can tolerate volatility, your financial picture, and how much you can re-coup if you sold now vs. how much you can gain if you hold on for a while longer.

Answer 6

No you cannot sue them and perhaps you should learn to spell before you put money in the market.