Post by
Stocktree on Jul 05, 2022 5:24pm
A scenario like this one is what I fear will happen with EDT
I just copied an article (below) regarding a takeover that occurred with another company. I changed the names of the companies involved to X and Y, but it's really easy to understand that the efforts made to push down the price of our stock might well result in retail shareholders being cheated in the end. So any calculations based on a normal situation where the price of a stock appreciates in proportion to the successes of the company might just be raising hopes for nothing.
"Little Guys" Fight X Buyout."
According to the article, angry at what they say is an unfairly priced takeover attempt by Y, more than three dozen small shareholders of a Canadian biotechnology firm, X Inc., are trying to band together to block Y's deal to buy the company. On a website set up by a X shareholder, investors claiming to own nearly a million shares have vowed to vote against the $zzz million Y takeover disclosed last week, calling it "ridiculously low," a "sham,'" and a "cheap sellout" driven by collusion among X insiders, Y, and a billionaire investor.
Although a shareholder website is unusual, Bob said the small investors were unlikely to have much sway. "They may be able to agitate enough and get the board members of X to go back to Y and ask for another couple of pennies, but beyond that I'm not confident they're going to do much," said Bob.
Comment by
smartsob on Jul 05, 2022 5:41pm
Boston Globe: "Little Guys" Fight Genzyme Buyout | BakerHostetler (bakerlaw.com)
Comment by
smartsob on Jul 05, 2022 5:59pm
The little guys lost. Appeals Court Affirms Decision to Dismiss Securities Fraud Shareholder Suit Against Bioenvision Appeals Court Affirms Decision to Dismiss Securities Fraud Shareholder Suit Against Bioenvision | Ropes & Gray LLP (ropesgray.com)
Comment by
Gorf79 on Jul 05, 2022 6:26pm
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Comment by
jonnieboy on Jul 05, 2022 7:42pm
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Comment by
RickyBobbyTO on Jul 05, 2022 8:33pm
I doubt it will finish like this but, oh boy, am I glad I don't sit here thinking about this all the time any more. Sometimes you get tunnel vision and you forget there are literally millions of companies out there to invest in. Thank you to whoever brought this up to 50 cents so I could get out. Thank you again from the bottom of my heart.
Comment by
JohnnyCashMoney on Jul 05, 2022 9:40pm
What if you got into it when it was BioMS and you had more money than brains? Now you are too stubborn too take a loss but probably should have many times