STETSON OIL V.SSN

Do we have a legitimate complait?

[mojo123]

https://www.osc.gov.on.ca/en/22403.htm

Investment Industry Regulatory Organization of Canada (IIROC)

Will these guys do anything for us?

[rkham]

Yes...

[mtsuit]

Stetson didn't receive any money by 12/31/13 so the preferred's claim expired.  Case closed. Maybe they could have applied to extend the expiration, but they were under no obligation to do so.  And they did not.

[rkham]

Thanx for your play by play. Maybe leading up to the expiry date things should have been handled differently. IMO,either way its comes down to judgement & the best interest of the SH considering the circumstance from March victory. The flavour is different If in march/2013 we lost the case & filed for the appeal.. Obligation=best interest. IMO,R

[mtsuit]

Fiduciary obligations to preferred sharehodlers are normally limited to the terms of the preferred contract.  In particular, when there is a conflict between the interests of common vs preferred shareholders over an issue not addressed in the preferred contract, US courts have favored the rights of the common (I assume the same applies in Canada, but I don't have an example to prove it).

[rkham]

I understand & hope you turn out to be wrong... We'll see how things unfold... As a investor it was my understanding that a victory entitled us to a fair process from there forward. I attempted to communication Stetson this very question & they  failed to forward me the answers. we'll see how things unfold.. as the stomach turns

[shawshank]

MTSuit: it behooves me as to why the preferred shareholders could not band together for the formation of a class action lawsuite-for the basic and reasonable position that the preferred shares were issued for participation of said proceeds from successfull litigation not from any  contigency on the company's inability to collect on a successfull award...in other words the plaintiffs

[RTO]

The courts "awarded" damages.  The courts also "awarded" sums ($4+ million) that had to be paid in August 2013!!   Where is that money at??  SHAFT