RE:CLASS ACTION In the absence of a smoking gun and a stained blue dress it will be hard to prove much else other than a somewhat too casual fear ridden risk averse management. On management's side they have Stella now producing oil albeit years behind schedule and having lucky survived last year's horrific downturn. The curious delays, offer timing, lack of communications, Delek's data access, quick unanimous BOD offer support, etc. are ugly, subpar and biased but in my opinion circumstantial. In the hands of a good lawyer it could all be argued to just be coincidental and unrelated.
I think the best hope the shareholders have is to refuse to tender their shares to Delek and ride it out until what I expect will be great news from the near-term Harrier drills rights the stock price in the $2.30+ range by June. Then increasing oil prices and news of lower op costs will march the value higher to near $3 by year's end.