You can't become too restrictive on the criteria f
Post# of 72440
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Posted On: 01/03/2017 3:22:37 PM
You can't become too restrictive on the criteria for class action securities suits particularly on the OTC. There are many frauds out there and the SEC does not have the time or manpower to investigate all of them. Legal challenges to companies on behalf of shareholders is a very important tool to scrutinize and vet such companies.
Enron, Worldcom, Tyco and many more come to mind. If these companies and others like them had faced the scrutiny of a class action suit prior to their bubbles many investors would have been spared their fate. I've been among the victims of fraudulent bubbles myself and wish dearly that someone had challenged those companies before I took a stake in them.
I was not pleased on August 6, 2015. I was quite nervous as friends and family dialed me up telling me they sold. Through the process though, the company became more solid with every court milestone.
Nothing awry was found with the company. The law firm took payment in the form of out-of-the-money options so obviously they saw something they liked. Since June of 2016, when the suit was formally dismissed, I have been able to buy with greater certainty in the prospects of this company along with absolute faith in the word of management. They are not always right but I know they are genuine.
The defending law firm was willing to take payment in the right to purchase the stock at a price 40% higher than today ($1.70). I get to purchase it at $1.20 today – better terms than the lawyers who had all the inside info received! Our market cap is quite conservative and tight which will make it resilient to any market correction or unexpected trials results. Even a lack luster deal should result in substantial gains. I have never been more comfortable with my investment in Cellceutix.
I now just assume that any company I invest in will have to prove itself as genuine in a court of law. It does add to the cost of doing business but I'd rather have a little drag on the stock price than suffer another pump and dump. When a company states that it will go to court to fight the suit, that is the time to buy because you know they are telling the truth.
Besides, those 45,000 newly minted lawyers each year need to eat. We wouldn't say it's immoral when a homeless person steals to feed their kids. Is it immoral when a homeless lawyer frivolously sues to feed his? Haha, I jest.
Enron, Worldcom, Tyco and many more come to mind. If these companies and others like them had faced the scrutiny of a class action suit prior to their bubbles many investors would have been spared their fate. I've been among the victims of fraudulent bubbles myself and wish dearly that someone had challenged those companies before I took a stake in them.
I was not pleased on August 6, 2015. I was quite nervous as friends and family dialed me up telling me they sold. Through the process though, the company became more solid with every court milestone.
Nothing awry was found with the company. The law firm took payment in the form of out-of-the-money options so obviously they saw something they liked. Since June of 2016, when the suit was formally dismissed, I have been able to buy with greater certainty in the prospects of this company along with absolute faith in the word of management. They are not always right but I know they are genuine.
The defending law firm was willing to take payment in the right to purchase the stock at a price 40% higher than today ($1.70). I get to purchase it at $1.20 today – better terms than the lawyers who had all the inside info received! Our market cap is quite conservative and tight which will make it resilient to any market correction or unexpected trials results. Even a lack luster deal should result in substantial gains. I have never been more comfortable with my investment in Cellceutix.
I now just assume that any company I invest in will have to prove itself as genuine in a court of law. It does add to the cost of doing business but I'd rather have a little drag on the stock price than suffer another pump and dump. When a company states that it will go to court to fight the suit, that is the time to buy because you know they are telling the truth.
Besides, those 45,000 newly minted lawyers each year need to eat. We wouldn't say it's immoral when a homeless person steals to feed their kids. Is it immoral when a homeless lawyer frivolously sues to feed his? Haha, I jest.
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Current Positions:
Long CTIX.
Current Positions:
Long CTIX.
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