RE: Deal? Dissident suit allegations mention 577,800 votes cast by Cruz and Malette (both registered representatives at Canaccord), an unknown number of votes cast by Canaccord using restricted proxies and double-counted, and 67,000 votes cast by Joshua Jackson (likely a Canaccord client).
Since January 1, 2012, Canaccord has bought 1,290,000 MSQ shares at a cost of $628,000 (average cost of 48.7 cents, and right now MSQ is at 40.5 cents...loss of $105,000).
CC has been a big mover of MSQ PP paper into the markets, and there must be a heck of a lot of suffering CC shareholders.
Word on the street is that there's been considerable flying back and forth fron Vancouver to Hong Kong (and doesn't IEMR have an office there?). Might there be an end-run play going on which could put the dissidents in the catbird seat (if someone issued a support-the-dissident communication, might that move all of the CC clients into the dissident camp)?
Something has to give, IMO. With the AGM votes called into question by the dissidents, anything the BOD has done since the AGM could be in question, and that's got to be causing uncertainty (not that there's been much activety since last fall).
IMO, "The company intends to strongly defend itself against this unjustified action and to take appropriate measures against IEMR and other dissident shareholders" ain't going to appease underwater shareholders in Vancouver, Canada, Germany and Asia, and I don't think that ex-chairman Fu gives a rat'sass about the threats of someone who, in the supposedly 'friendly' times (Jan., 2011, made the following comment in a widely disseminated interview with Stockhouse's Thom Calandra:
The Chinese,” he says about the country’s local moly miners, “are like cavemen, picking away piece by piece at the sides of underground. This is a fact.”...
Maybe the Chinese are picking away at MSQ's management support?