RE:What can investors do to stop clulow,Pritchard and Simon bemedrose wrote: Best fromstealing our company any suggestions
edrose
it's not 'stealing' any more, imo, the theft has been completed as of yesterday.
I've heard from IIROC today with regards to my filed complaint that it's not within their mandate to deal with the kind of complaint and in the same e-mail, they refer me to TMX and AMF.
Judging from TMX's decision yesterday, one can assume that the only regulator which may still intervene will be AMF.
If AMF choose to do nothing or like TMX, agree with the company, then one must accept that the new day has indeed arrived for this company, with SALP being the majority holder legally.
If/when that happens, perhaps each investor will need to decide whether or not they still want to stay invested and what the best course of action for themself forwards. (imo, the rights offer is the only way, even if one wish to exit completely, better to put in some new money to lessen the loss and exit at a more favorable time).
For those who do
not wish to stay invested and want
no part in Prometic's future and feel that it's worth their time/energy, then perhaps a class-action lawsuit is the
only way to recover some money, even if only penny on a dollar.
Or if anybody thinks that they want to stay with the company, but a different kind of lawsuit (i.e. a civil suit) to reverse what has taken place in the past 2 weeks, then perhaps they can try that way.
However, I think that this is beyond most of us here and is not really an option for any of us who are
not independently rich and can retain lawyer to work on our behalf. I think that SALP and Prometic have much better legal coverage than any of us (or even lots of us put together) can come up with, even if we feel emotionally (or morally) motivated. Civil lawsuits are really for those who can afford the lawyers, imo, unfortunately.
sorry about the length.