The level of shareholder apathy is amazing in situations like this. I’m not sure whether Radoff helps or hurts. On one hand you can be assured SOMETHING will happen. The question with him is whether that SOMETHING will be for his sole benefit or if it will benefit all shareholders.
This one seems like it was worth the roll of the dice though.
The fact that all the directors were re elected makes this seem like less likely as a pos outcome. The offer Radoff made is the most fair offer anyone could make for a liquidation. If the company can’t accept that, they are just going to drive it into bankruptcy. It is too bad we can’t sue them personally for doing this.
All may not be lost though, on the surface it looks like there’s a case to be made for a breach of fiduciary duty in DE Chancery Court. If it stinks this bad on the surface, imagine what a Section 220 request will turn up! As you point out though, time is not on the side of shareholders.
The swen ones are more interesting risk reward wise but this is just happening right now this second
The level of shareholder apathy is amazing in situations like this. I’m not sure whether Radoff helps or hurts. On one hand you can be assured SOMETHING will happen. The question with him is whether that SOMETHING will be for his sole benefit or if it will benefit all shareholders.
This one seems like it was worth the roll of the dice though.
The fact that all the directors were re elected makes this seem like less likely as a pos outcome. The offer Radoff made is the most fair offer anyone could make for a liquidation. If the company can’t accept that, they are just going to drive it into bankruptcy. It is too bad we can’t sue them personally for doing this.
Agreed, the offer appears very fair.
All may not be lost though, on the surface it looks like there’s a case to be made for a breach of fiduciary duty in DE Chancery Court. If it stinks this bad on the surface, imagine what a Section 220 request will turn up! As you point out though, time is not on the side of shareholders.
Unfortunately, the company won. This thing goes sub $1 shortly, in my view.
Yes very unfortunate
wow you have been busy. Reading your piece now before checking the other decks from Swens Event today.
I was working on this over the break🤣
nice one hehe
Who is Swens Event?
Its called Weird Shit Conference, you can look it up
Thanks!