RE:RE:RE:RE:Concordia may also be linked to thisEven if it's a personal lawsuit, it's the CEO we're talking about, not some random director. The markets didn't like it because a lawsuit is the last thing CXR needs now. If it was a CXR lawsuit against a hedge fund that's been discovered as the source of all the pain, and the short and distort campaign, I'd say it's wonderful. This is just another case of their personal feud getting in the way of the business. MT may have hired a lawyer for this case, but just knowing that his thoughts are going to fight for his ego, instead of being 100% on running the business, is a big turnoff for the markets. At least, that's how I see it. This is a disgrace and any shareholder should want to replace him at the next vote.
InsiderTrader wrote: FRUSTRATED as heck here. Well at least a law suit forces questions to be answered. CEO can't go and hide from questions a he will be under oath and won't be able to duck cohodes questions. Being that it is a personal suit not a company suit ceo will have to prove reputational damage and i'm not sure how easy that will be. One thing for certain that noone can argue is that the market did not like the news. If ceo thought that it would give a boost to price as it was just about to breach 52 week low he was wrong there. Market assessed the law suit as a negative for concordia.