of corporate marketing at a high tech company in Silicon Valley. As with others in the CMI group, Pfeifer had a business background. Pfeifer's damages were estimated to be about $524,000. Id.
Finally, Herrgott was both the president of a construction company and a broker. Herrgott lived in Michigan and had received an MBA from Wayne State University in Detroit. Herrgott was also a chartered financial analyst, which he stated provided him with a working knowledge of accounting-related principles. Herrgott claimed that he had extensive experience trading stocks. The losses incurred by Herrgott were calculated to be approximately $462,000. Id.
These five individuals negotiated with Milberg Weiss as a group for the following ascending percentage fee arrangement:


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 Recovery            the conference as scheduled and that, from their absence, the court inferred that the CMI group (as well as Chenowith and Hernandez) were not interested in pursuing appointment as lead plaintiff in the case. Doc # 129. The court directed those parties to inform the court in writing not later than December 24, 2003, if they continued to seek appointment as lead plaintiff. Id. In response, the court received a letter dated December 24, 2003, from Hernandez' counsel, informing the court that counsel had been unable to consult with Hernandez to determine whether Hernandez would seek appointment as lead counsel. Although more than a month has passed, the court has received nothing further from Hernandez, nor from any of the other parties to whom the order was directed.