Glenn, sorry, but that's ridiculous. Sure, Bezos, KPCB and others have made lots of money while the business has done nothing but burn cash, but if the shareholders have willingly ignored the huge losses, which were not hidden from them, then you have no case for claiming an illicit transfer of wealth. Besides, thousands of public shareholders made tons of money as well by selling the stock to "greater fools" - would you call their gains ill-gotten? Finally, by your logic, all insiders should be prohibited from selling their shares whenever they are overvalued because that overvaluation must mean investors have been mislead. Who decides when they are overvalued if not buyers in the market?
That said, if you have evidence that AMZN management or board members have illegally misrepresented the results or financial condition of the business, then make your case. I'm sure many clever members of the plaintiff's bar have tried (and continue to try). Find that evidence and you could make millions yourself from Amazon. But let us know before you go public with it, ok? ;-) |
