GREY:WFREF - Post by User
Comment by
BlueCollar51on Jan 20, 2016 12:18am
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Post# 24475232
RE:RE:hes right
RE:RE:hes rightReflect wrote:
Sound&Fury you are right. But before a class action is to be initiated, an investigation has to be held into the actions of LRE mgt. whose actions in the cancellation of the MIE deal is illegal & therefore null & void. LRE mgt. signed in writing that the approval of the deal be determined by a free vote of LRE shareholders. This is a contract that is legal & binding.
All investors, small & large should be very concerned that a Corporation’s mgt. can break a legal & binding contract with its shareholders. In LRE’s case; they negotiated the deal with MIE & then recommended that LRE shareholders accept the deal & that the deal’s approval be determined through a vote by LRE shareholders. Not only this, the lenders gave their stamp of approval to this procedure & deal by amending the credit facilities.
By not falling through on the vote, LRE mgt. purposely lied to & deceived LRE shareholders; withheld vital investment information from shareholders & shared vital investment information with only certain shareholders & then acted beyond the scope of their mandate - This is fraud & deception. LRE mgt. had no right to cancel the deal with MIE. LRE mgt. relinquished this right & gave it to the shareholders to be decided in a vote as to whether the deal would be approved or disapproved.
LRE management is guilty of fraud & deception & lying to shareholders & acting illegally in the cancellation of the MIE deal. Therefore, it is null & void.
LRE trading must be stopped & an investigation is warranted & the guilty parties held accountable in a court of law.
This is not Communist Red China. In Canada, contracts are honored & the law has to be obeyed. All investors must come together & not allow LRE CEO Andrew & the LRE BoD to get away with their criminal actions. They are criminals & have to be held accountable in a court of law & punished.
Alberta Court of Queen’s Bench, Calgary 705N-601 5 St SW
Calgary
403-297-7538
https://www.albertacourts.ca/court-of-queens-bench/ **They are responsible for issuing the Interim and Final Orders re the LRE transaction.
Alberta Securities Commission
600, 250 5 St. S.W. Calgary,
Alberta T2P 0R4 Phone: 403-297-6454 Fax: 403-297-6156 Toll Free: 877-355-0585
Email: inquiries@asc.ca Ontario Securities Commission