First Global Data Ltd FGBDF

RE:RE:Why so silent?

[neliohd]

To start a class action we need to get organized and pool some money. Not long ago I posted on the FB group a reply from a lawyer I have contacted. I'm posting his response below. Will keep his name out, since I have not asked him for permission to reveal his name. I explained the situation with FGd, their revenue misrepresentation which led to CTO, the lack of any communication to shareholders and the sale of the assets and asked if we have a ground for a lawsuit and if we can stop the sale of the assets etc. And below is his response. If anyone has contacted other lawyers, please share their responses. If we are to proceed with class action we need to choose a lawyer and be prepared to cover their fees. Spatting over in this forum is not going to solve the problem. May be we should set up a separate group, for those who are interested in class action. Some investors and the pumpers want to wait. I believe waiting is not going to do us any good. I am all for class action. "RE your question below, you may have some remedies under corporate and/or securities law with respect to oppression or possibly minority shareholder rights depending on the scale of this transaction vis a vis the total asset size of the company. It is certainly worth exploring a little deeper. We would have to meet and I would have to get a more detailed understanding of the company and the transaction. While I dont do litigation per se, I do work with other lawyers who do handle litigation matters. In those instances I provide the background and research on the corporate and securities law issues and the litigator handles the procedural issues with respect to any court action. I would need to spend a couple of hours on this matter to develop a full understanding of the facts and the issues, which would likely require a retainer of $2,500 (plus HST) If that works for you, I will send you the client ID forms that I require to do a conflict search and for my file opening along with a retainer letter outlining the scope of the retainer and my hourly rate, which is $425 per hour"