OTCPK:TOUBF - Post by User
Comment by
birchjunkon Aug 28, 2011 8:34am
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Post# 18987025
RE: Class Action Suits
RE: Class Action SuitsI wouldnt hold my breath on the success of any class action suit or the stock moving back to $19.
If the assets and sales were over-stated, then obviously, so must the cash position but not the massive debt.
This will leave TRE as potentially a basket case, with large negative equity and unable to generate sufficient cash to cover its debt costs.
But, you might be successful in a lawsuit against the auditors.
Afterall , they are the garantor of the accuracy of the financials.
Surely, if an independent audit process came up with major fradulent practises in just 2 months, why did not TRE's auditors over a period of several years.
This is what auditors do.