RE:RE:RE:Minority Shareholders Update
Hello Pennylane,
There is, as far as my inquiries have determined, currently no basis for a class action law suit against Discovery Air, current or past executives, or current or past board members. The first step in a class action is to seek court approval for the action to go forward, and this is where you would read a news release from the legal firm attempting to get the action certified.
At this point I am not filing a lawsuit against the Company - a very expensive proposition for an individual investor to take on against a well funded adversary who can spend other investor's money with impunity.
What I am doing is reaching out to other debenture holders, non of whom are insiders as far as current SEDI reports disclose, and all of whom share a common interest with me regarding getting our principal paid back as promised by the Company. In contacting the debenture trustee (Computershare), I was informed that I was the only debenture holder who had contacted them in order to question what might be done in light of the Clairvest takeover proposal.
You are most welcome to read my 8 year history of posting to this bullboard, which should give you some assurance that I am anything but a Company spy. Please feel free to send me a private e-mail and I will share my contact information an you can give me a call. The list of beneficial holders of the unsecured debentures will be available from Broadridge on April 28th and I hope to have the distribution in the mail by May 2nd. I have asked for a response from interested debenture holders who wish to call for immediate redemtion back to us by May 15th. This would provide time to obtain an injunction to delay the vote on the takeover now scheduled for May 23rd.
Thank you for taking time to post your thoughts today.