RE:LitigationThanks for your input, Shnapps. Well thought through!
I've finally caught up with all the posts this past week. These days, with all the wondrous displays of financial and analytical prowess being trotted out on this board, most of which has very little substance, I now review the posts briefly about once a week.
But when it comes to legal matters I do have to smile at the limited knowledge certain individuals have displayed regarding the enactment of, and the procedures for moving ahead with, a class action suit involving securities law violations. Without going into details it might be best for me to refer you to the article titled "How to Organize a Class Action Lawsuit". It can be found at the following link ....
https://www.wikihow.com/Organize-a-Class-Action-Lawsuit
It's very straightforward, and in easy to understand language.
Those of us who have watched the steady decline of our company's shares over the past 18 months, culminating in the acquisition of a strictly spec explorer for the unheard of sum of more than $170 million, plus the loss in shareholder value in excess of $750 million, should be shaking our collective heads in disgust. Questionable trading activity? Misrepresentation? Collusion? Failure to perform Fiduciary responsibilities? Failure to perform proper oversight? People have raised these claims and more.
Your guess is as good as mine. An even greater concern of mine, the exit of institutional shareholders over the last while, many of whom were shareholders for a long time, supporting MPV through its Exploration, Development and Production days, says volumes and raises a lot of red flags. During my career I sat on the Boards of several publicly traded companies, advising on matters of a financial nature, but never encountered anything like what we've been experiencing here.
By the way, for those individuals who think that the Board members of public companies in Canada and the U.S. don't have serious responsibilities and can be held, civilly, even criminally liable, you need to brush up on the rules of law.
Whatever the reasons for PE leaving, our company lost a real leader. I seems pretty clear that we now are left with a very sick stock. And the stench is all-pervasive.
Brit