RE:Regulatory Action orMalpeque2
The regulators have been given tons of info and have been contacted by many shareholders ,repeatedly. (Earlier the Aussie regulators were similarily informed about Titan, though we don't know to what effect as yet) But as I said, they will not divulge one word about what they are doing until they are totally ready, and when they do, it will be very official, and perhaps they would halt trading to do it. What they say could be of huge consequence to Core, and especially the BOD.
It is quite possible that the regulators involved are worthless, but they certainly aren't toothless. We are all familiar with the high profile cases where people ended up in jail. And at times the evidence wasn't all that compelling, with a much lower threshold for proof than a normal criminal case. I think this is , at least partly, what keeps these guys honest, or at least somewhat less dishonest.
And this case has some characteristics that are somewhat unique, and perhaps attention grabbing for the regulators. A CBC new story, and probably most importantly a judge ruling that this was the worst something (you should read his judgement yourself to get the exact wording and all the rest of the nuances) in 20 years, I think it was. That has to get the regulators attention more than anything else.
As far as class actions. Yeah, maybe at some point. But they are slow, complicated, expensive , and if done on contingency only the lawyers and administrators pocket much. We need something much quicker than that. The best result looks to be that a deal is made with someone, and that someone takes over the company on favorable terms to the shareholders, and the present BOD4 , and CFO crawl back in their holes, never to be heard from again. Can't see Core ever thriving with any of the BOD4 being involved in any way except as passive shareholders.