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Technology Stocks : ALU - Allou Health & Beauty: Another Web Play
ALU 3.4600.0%Mar 3 4:00 PM EST
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To: Richard Karpel who wrote (313)4/24/1999 2:58:00 PM
From: Questerr  Read Replies (2) of 418
 
Richard,

I already have a call into David S. When he calls me back, and if he can't convince me that this was the best deal he could muster for ALU shareholders, I will join you in suing the company. Not a lawyer, but I bet we might get one on a contingency fee, via class-action, etc.

What I am most concerned about is how much did the Jacobs receive for their personal 15-18% equity stake in FC for their little $3 million loan to the company, when all the losses of FC were shared by all of us. That isn't right! What reputable audit firm (other than David S. himself), decided the $3 million was worth that much - even if it was a year ago. We as ALU shareholders should have gotten at least 40% of this deal!!!!

Send me a PM, and like I said I will talk to David on Monday - already made it very clear to him in my voice mail message- this is a dark day in ALU's history - unless he can somehow convince me otherwise - and we can discuss legal remedies? If the Jacobs did not benefit any more than the rest of us, I will let this go. But if they benefited (significantly) for a short-term loan, when we as shareholders of ALU bore the cost of start-up and all the expense - I will gladly review the legal option. I have a lot of $$$ invested in this company!!!!! A decision of this magnitude should have been a shareholder decision, not a management decision. Let's hope everything was done at arms-length.
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