Yes, I too think they have a playbook when they see a meger, buyout, etc. But they do discovery to decide if they should proceed with any real legal action. My understanding is that they do not get any fee unless it is awarded to them by a judge. They would not get a fee for doing discovery and analyzing the situaion if they then concluded it was hot worth it to them to go forward with legal proceedings. And again, it is my understanding that if they don't get any benefit for the shareholders then a judge is not likely to award them a fee (for what?)
While pressure to evaluate whether or not the $50 price is in the best interest of shareholders, I do disagree with the comment"these guys are pros". Most are nothing more than opportunists and have a standard playbook to file suits when a buyout occurs. A step above an ambulance chasers scooping up fees to be a nuisance.
Personally I was hoping to hold my shares for many, many years forward; and do not want to sell.
But these law firms are not my knight in shining armor by any means.
Good. I read your posts all the time. I learn a lot from them. Thanks!
that penalty is not unsurmountable... it is minor stuff... VaPHoooM has $275 Million that a white knight can use to defray that breakup fee... and the future income from VaPHoooM's upcoming drugs is immense.. what's $150 mill when you have a couple of Blockbuster drugs in your possession?.... aloha K
Good question, Kamoa!
However, as I interpret the buy out document,
VaPHoooM would have to pay a HUGE penalty if
it backs out of the deal?
Will one make the move soon?...
Waiting in da wings what price VaPHoooM settled for...