It is truly hard to understand why the brokerages that were to do the "due diligence" before the merger didn't do their job. They are still unscathed today. Jain is still walking free. The GNET shareholders had to believe that Horowitz believed Jain, and that the people GNET paid (attorneys, accountants, brokerages, etc) to make sure that everything was a go....
Now we find that INSP with Jain before the merger was in impossible peril, and yet Jain AND the brokerages kept up the facade.
Horowitz had very little time to try to make a silk purse from a sow's ear, so to speak. Jain was totally and completely out of control, and yet he kept control because of the INSP board.
The shareholders, including Paul Allen, were taken for a ride. All the way down.
And I for one, blame myself for not putting a stop loss on the shares I held. Still have some in my IRA. It costs more to sell them than just leave them there.
Yes, I would hope someday, Jain will pay the price for his deception, which is the nicest word I could come up with. |
