I read on YMB there are some who are pushing for a
Post# of 30066
Posted On: 10/14/2015 8:09:29 AM
I read on YMB there are some who are pushing for a class-action lawsuit against the company to try to recoup their investment losses. Are people really that stupid? Do they think they're going to recover anything with such a lawsuit in the company's current situation?
There are private investors who are currently trying to fund the company and help them move their assets forward so they can reverse the current situation. The company gambled on a quick uplist, and lost. The unfortunate delay in proxies getting out that resulted in delayed quorum votes completely unraveled their plans. That, combined with Discovery unloading their shares to punish the company for not agreeing to further funding has resulted in the current debacle. Bad luck? Bad decisions? Possibly some of both. That's not the end of the company. They will recover because they have private investor support. They just need time to make it happen.
A class-action lawsuit would be the worst thing for the company at this point. Investors aren't going to recover their losses. The lawyers will make money, but not shareholders. It would likely put the company into bankruptcy at this point, and destroy everything these private investors are doing to help the company move their assets forward. While one can view the company's outlook as uncertain at this point, a lawsuit will ensure they will fail. I know investors are upset, but is this the course of action they want to take? I really hope people aren't that stupid.
There are private investors who are currently trying to fund the company and help them move their assets forward so they can reverse the current situation. The company gambled on a quick uplist, and lost. The unfortunate delay in proxies getting out that resulted in delayed quorum votes completely unraveled their plans. That, combined with Discovery unloading their shares to punish the company for not agreeing to further funding has resulted in the current debacle. Bad luck? Bad decisions? Possibly some of both. That's not the end of the company. They will recover because they have private investor support. They just need time to make it happen.
A class-action lawsuit would be the worst thing for the company at this point. Investors aren't going to recover their losses. The lawyers will make money, but not shareholders. It would likely put the company into bankruptcy at this point, and destroy everything these private investors are doing to help the company move their assets forward. While one can view the company's outlook as uncertain at this point, a lawsuit will ensure they will fail. I know investors are upset, but is this the course of action they want to take? I really hope people aren't that stupid.
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