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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: mark silvers who wrote (16582)10/7/1998 4:49:00 PM
From: Neal davidson  Read Replies (1) of 20681
 
I think that after a few factual and legal questions are answered, we would have to form a small committee to see if we could find competent counsel to represent us. The interests of everyone should be represented on the committee (ie: those who bought the last PP, those who did not, but relied on Ledoux, etc.)...then we need to discuss our goals, how many shareholders want to participate, whether it should be a class-action suit, etc. I guess we would also have to discuss whether Naxos would be an appropriate defendant, either because they are not suing Ledoux or for other potential malfeasance. I know there is disagreement amongst shareholders as to Naxos' culpability in the Ledoux fiasco. I have already stated my opinion that it was reasonable for management to rely on Ledoux. If someone can tell me why I am wrong (without relying on 20/20 hindsight) I am all ears.
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