Posted On: 07/02/2014 12:24:22 PM
Post# of 39368
Let's stand outside this whole fiasco for a minute. Let's take a look in at on old management (Reid, Gwyn, York, etc) and judge their past PR's vs performance vs "six month plans", their ability to find or pump oil, etc, etc. Then let's take a look at the BK petitioners and those making claims they are owed money. That case didn't hold up for the petitioners the first time around. Many weren't represented. We know of Gwyn's recent court appearances and hedgefund racketeering or whatever he was involved with. Below article has been well publicized http://www.nola.com/business/index.ssf/2014/0...und_m.html
Regardless, I think Reid and Gwyn took advantage of the opportunity using Seans requests for message board posts, the BS in the newsletters, etc in order to hide behind this BK petition case and deflect attention away from themselves. I ask myself who is the TECO shareholders worse enemy? Old management or the BK petitioners? Shareholders should file a class action against the old regime and hire a forensic accountant and have the SEC/FBI examine the TECO books and filings. Who were all those "consultants"? On the other hand a class action might interfere with the new regime's progress so IMO shareholders should leave well enough alone for now. IMO old management moved out just in time but might still face legal challenges from many investors as the months and years go by! I'm not sure of the statute of limitations but IMO there is still plenty of time!
Regardless, I think Reid and Gwyn took advantage of the opportunity using Seans requests for message board posts, the BS in the newsletters, etc in order to hide behind this BK petition case and deflect attention away from themselves. I ask myself who is the TECO shareholders worse enemy? Old management or the BK petitioners? Shareholders should file a class action against the old regime and hire a forensic accountant and have the SEC/FBI examine the TECO books and filings. Who were all those "consultants"? On the other hand a class action might interfere with the new regime's progress so IMO shareholders should leave well enough alone for now. IMO old management moved out just in time but might still face legal challenges from many investors as the months and years go by! I'm not sure of the statute of limitations but IMO there is still plenty of time!
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