First of all, do not put me in the camp of defenders of CSMA management actions. It has been a long while since I approved of their actions. Second, of course you have enough shares to demand a shareholder meeting. And at that meeting you can vote to get rid of the management.
What I am saying is unless you get a court order to overturn their actions, you will not stop this reverse because you don't have the MAJORITY of shares. The board can issue dividends, the board can do a reverse and the board can issue shares as it deems fit. If shareholders disapprove of the board's actions, they can vote the board out...assuming they have the votes, which you don't.
Believe me, any sane person would love to see this reverse undone, but you won't be able to do it at a shareholder meeting. You think I am slamming you, I'm not, I'm just giving you a dose of reality.
In fact, only IMHO, reverse splits are one of the things management does to ensure they always maintain control. Now, it's JMO, but I think most observers of the markets would agree with that opinion.
Having said that, what plans do you have through the courts to stop the current management's plans?
TG
TG |
