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Microcap & Penny Stocks : Zulu-tek, Inc. (ZULU) -- Ignore unavailable to you. Want to Upgrade?


To: Chilbert who wrote (12010)8/10/1998 5:22:00 PM
From: Terry T.  Read Replies (2) | Respond to of 18444
 
A formal request may get no where, but:

1. It provides an invaluable litmus test on the integrity of management,
since management has a duty to respond promptly to these requests; and,

2. A proper request can be enforced by a court, and in some states
with an award of attorneys' fees to the shareholder.

If we get the run around on the pretty narrow document requests I am proposing, then we may have a problem with this company and our investment.

Note: I am NOT suggesting a class lawsuit at this time. We may not know enough to justify that (unless the operator agreement is some how improper, and I don't know the answer to that).

I also would be very leery of hiring an aggressive plaintiff's law firm. I have had some bad experiences with some of them. At this time at least, unless we are willing to write off any ability to work and communicate with this management team, all we want are some pretty basic and obvious corporate, accounting and financial disclosures, and a formal shareholders' meeting within the 15 months provided by statute.