I was duped just like everyone else was that takes this position. I trusted the audited statements to properly reflect the company's value, and the releases put out by the company. I reviewed all of this prior to my investing.
The company would not provide me with answers to valuations, and eventually Mike Rehtorik and I had a long conversation. During that conversation I asked him if any officers of the corporation had a criminal history, (I had learned at this point of some history) he denied that anyone did, though he did stumble a bit on it) two times after he asked me if I knew anything that they should be concerned with, and I said, basically no. I knew he had lied to me then and that there were problems internally.
Thereafter, I basically tore the company apart division by division, officer by officer, and learned of what the company is really about.
If you recall, it was later announced that everyone was aware of Mo's "youthful indiscretion".
It took considerable time to accomplish this.
Based on what I know, the company is fully culpable for this and the action should be against them. The decision to sell or hold you have to make, over the long run I believe the stock will continue down.
DISCLAIMER ALA Jeff Silverman: This direction is soley my opinion and should not be used for investment decision...what do I know?
The action has been prepared and my attorney will be back at the end of this week. I foresee us filing next week. Those that wish to participate in this suit will have plenty of time to join. We have been working together on this for the past three months.
I hope this answers your question.
Tod |
