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AuRico Gold Inc. Ordinary Share Message Board

  • jack_baron jack_baron Nov 6, 2012 1:11 PM Flag

    Crewcoach, did you know about the settlement before your last post?

    $13 million barely covers legal fees for prosecuting, or defending, the case. I have been involved in shareholder lawsuits 3 times on the plaintiff side. So this looks to me that AUQ decided to pay off the lawyers and end this. Probably a good decision regardless of the merit of the claims.

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    • Seriously they settled for $13 million. Must not of had a good case. I was in and out of this stock back when it was Gammon Gold. I was sold a bunch of bull back then and lost a little, but made it back buying in at low points and selling. It was my own fault shouldn't have believed the smoke and mirrior trick. Glad this if over with. - So they sell 10 million shares at $20 based on bull and then report production a month after that is 70% less than what was suggested in thier offering data. Stock drops to $10 and they have to pay $13 million 5 years later..... They would have been out of business, but instead the crooks that were there at the time get paid hansomly and barely get a slap on the wrist. I guess thats life.

    • No, but I can imagine someone did and tried to get cute with the negative call.

      Just the cost of doing business sometimes and it's a write off. Happened before I was acquired via Capital Gold. You are right about lawyers being more expensive and the unknown of cost of resolution on the market price. To settle and move on usually is the smartest move.

      Sentiment: Strong Buy

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