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Technology Stocks : Allen-Vanguard Rescue Board
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From: beaverfever10/23/2009 8:56:05 PM
1 Recommendation   of 724
 
I doubt shareholders will receive any further conciliatory letters from Luxton. We may not hear another word from him. I wouldn't doubt that they have terminated their investment relations contract.
Allen-Vanguard's delisting has locked Management and the Board of Directors in a legal position of no return. They have now committed to their "plan of attack" on shareholders equity - shareholders must prepare to battle for recovering their investment. This deal isn't done yet. IMHO we will be in a lot better position to recover money in a bankruptcy - why won't Luxton take that step - too much disclosure required ?
afraid he might lose control ?

Why does Luxton have a back-door option to buy Versa out in the first year (or 18 months in special circumstances)aka "Tail Period"? see SEDAR sedar.com Oct 9th 844 K Alternative monthly report - see Page 7.
Not sure if that is a contravention of the Oct 13th PR:
There are no agreements or arrangements in place between Versa and any directors, officers or employees of the Company regarding any direct or indirect participation by such directors, officers or employees in the equity of the
Company going forward or regarding their role with the Company, or their employment or compensation arrangements,after closing.

IMHO there are more law firms looking at this situation, Siskinds has one action launched - and could have more. Allen-Vanguard's past actions are under very heavy legal review, civil and possibly criminal. Don't think your shares have zero value, as these shares could really be worth something down the line in a settlement arrangement. If the heat gets applied to Versa's deal, the pot could get sweetened in our favour.

I am monitoring this site for Federal Court hearings: cas-ncr-nter03.cas-satj.gc.ca
and will post any hearings concerning Allen-Vanguard. Recent updates indicate hearings bookings into March 2010.
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