DragonWave Inc DRWIQ

Anyone for looking at a class action after this?

[Domovyk]

 

 

 

 

Jonathan Joffe

 

Thank you for your email.  Unfortunately, the outcome of the receivership process for DragonWave Inc. will result in a significant shortfall to its secured creditors.  Accordingly, there will be no funds available for distribution to DragonWave Inc.’s unsecured creditors and/or shareholders.  Additional information is available on the Receiver’s website at:  https://www.ksvadvisory.com/insolvency-cases/dragonwave-inc/.
 
Should you have any further questions, please don’t hesitate to contact me.
 
Thank you,
Jonathan

[ashuwaliaa]

Won’t we be getting transform x shares? But aside from that I’m all for drilling these incompetent managers into the ground

[Domovyk]

Contact them yourself but I read the reply as shareholders are out of luck.  If true,  company built on shareholders back sold to U.S. investment firm for not even loan value and the new company can like to keep staff on payroll.  So it looks like the only ones that will get transform x shares will be the people that lived off shareholders investments for years.  

[jollynik6]

Anyone here looking to start a Class Action Lawsuit

[Domovyk]

If someone got one going I would definitely take part.  I think it would have to go after exec.  rather than dragonwave as after bankruptcy I would not think there would much point in going after the company.  But a lawyer would know better than me.

[Nick7777]

I'll definitely join a lawsuit against Transform-X if any. I invested a lot into DRWI and not planning just to watch how Transform-X is profiting from my investment giving me nothing. 

[ashuwaliaa]

Agreed. If someone is going to get the ball rolling, I’ll jump in.

[AytonEllen]

Who exactly do you want to sue?  They company was put into receivership by the secured creditors, then ASSETS sold to highest bidder to pay secured creditors.  So DragonWave Inc. in reality no longer exists, public listing was shut down.  New Company that buys DRWI has only bought ASSETS, no debt, no listing.  Called a liquidation sale!! Why do you think they owe shareholder

[jollynik6]

No harm in talking to a Lawyer who specializes in these cases ,Any legal minds here or friends of legal minds,We were all led to believe prior management was improving things not preparing to go bankrupt,we were given False information which is against the Law

[jayroysmith]

The Sec filings always listed DRWI's  ability to continue as a going concern.  Also there is no wrong doing by any party. I believe its fruitless unfortunately....

[Domovyk]

The company may be no wrongdoing but I am quite sure that a good lawyer could find wrongdoing on the part of the exec.  and the paid pumpers.  It would make for an interesting investigation anyways.  But you are likely right investors are simply out and should not pay so much attention to pumpers that continually reassure then when things are negative and tell them to buy more.

[Nick7777]

I think one should sue Transform-X. DRWI invested about 160M$ in R&D which yielded the best product in industry. This is the main asset. Now Transform-X will put their soft into DRWI product which should double the data transfer rate. Thus, with only a little investment Transform-X will have a product that will be in high demand and probably will bring huge profit. So, we will have a situation