fuddled, at this point in time, only a criminal investigation by the SEC would disclose whether or not crimes have been committed by Ampex's current and former executives against its shareholders. With its investigative powers, the SEC attorneys can depose Ampex current and past executives and seize their files and records to get at the truth about this company. This company really needed to be more open and not obfuscate the truth about what they have been doing from its shareholders. I may be naive but the fact that Bramson co-founded Hillside Capital created a serious conflict of interest problem for them when the Chapter 11 deal was negotiated between Hillside and Ampex. If they succeed, Hillside gets 80% controlling interest of Ampex, controls its BOD and goes private. At the same time, its shareholders are stripped of its equity interest in the company. Where is Ampex's fiduciary responsibility to its shareholders? Have they ever disclosed what alternative financing they looked into? Why wasn't the Hillside pension debt paid off when the stock climbed to $50 per share? Where are the reports and findings of M-CAM and Commercial Strategies??? Pretty neat way for Bramson to gain 80% control of Ampex and go private, don't you agree? Criminals get thrown in jail for stealing way less. If the SEC criminal investigation into Ampex proves no wrong doing, I will be the first to offer Ed Bramson, etal., my humble apologies for suspecting them of stealing from its shareholders.
fuddled, I've read your messages and know that your are very knowledgable about this Ampex company's history. If you can share with us your thoughts on why you don't believe that nothing criminal may have been committed by Ampex to warrant a criminal investigation by the SEC, it would be greatly appreciated. |
