RE:CMED HIP ACB - What a wild and situationI totally agree with you Sevam123. A huge mess first started by a single CMED director who's ego could not accept being out voted at a board of directors meeting.
Make no mistake. The ACB team, who claim to be the sharpest in the land, knew exactly what they were getting into. They just never considered they would not be treated as the friendly gods they view themselves as. Then they made the mistake of letting their “WTF! We are Gods” corporate egos take over.
This will get settled out of court for far less than $750 mil. The named parties will settle out of court. But it will actually be a gaggle of insurance companies that will pay. The risk of a large settlement combined with the costs of litigation for something like 5 defendant parties is too high. Especially after ACB’s court ordered public admission.
Yes there was an OSC securities commision ruling and if they did give a pass on security laws that is a special big $$ bonus for ACB and friends, but that does not give any of the parties involved a pass on their actions in regard to Canadian Civil law where the burdon of proof is far less stringent
Here is where that special big $$ bonus on the OSC ruling kicks in. The OSC ruling is good for ACB, Canacord, and the funds who had naughty representatives on the CMED board who
shopped CMED while having legal gags & handcuffs on because there may have been a ruling that there was no
breach of securities law with intent. So now their E & M insurance will be valid and kick in. Hey Mr Insurance company we screwed up but it was all just a big misunderstanding & accident. Bingo!
Hope everyone paid the extra premiums for a low deductible on their E & M insurance.
Except Tredgett and Vantage. I could see their insurance company walking away from them. Pretty hard to claim he did not know what he was doing. ACB truely threw him under the bus with their public statement. CMED had to respond. Dueling is outlawed, so now we have civil litigation. It would be very silly, and most likely negligent of the soon to be possibly newlywed CMED/Newstrike couple not to stand up strong on behalf of the newly joined shareholders and demand some nice tasty bonus E & M insurance $$$$$$$$$$$.
No where near the headline grabbing $750 mil but most likely close to the estimated full battle
litigation costs of all parties plus 25% of the asked damages. A range of $250 - $300 million. The big question is if the boy's egos will let them be responsible representatives of their shareholders?
Would ACB be better off to concentrate their present resources to getting the Sky facilities on track, and find some partners that would actually value a relationship with Aurora? Would ACB be better off to let CMED and HIP have the wedding they were so long planning before ACB stuck their hand up from the back of the church? If all the ACBer’s predictions of doom and gloom come true ACBer’s can proudly scream “TOLD YOU SO” To me the ideal conclusion to this would be if the entire situation could just step back in time to Nov 12, 2017
Then all shareholders could be totally free to decide if they want to be invested with the CMED + HIP business plan, or the Aurora We Be Gods business plan. Decide which of the two very different business plans and cultures best suits you. Make your own decission. Hold ... buy ....sell. That would be so sweet!
This present wild situation
of disruption is only doing great damage the value of this entire MJ industry that is not even offically started yet.