HBKS retained the law firm of Willcox & Savage, P.C. in 2012 in connection with certain
legal matters, and we expect to continue to do so in the future. Ross C. Reeves, a director of the Company, is an attorney (partner) with Willcox & Savage, P.C. The Company paid fees of $159,000 to the firm during 2012.
Expert on corporate law. Probably told HBKS: "I really don't think a Management Led Buyout is doable. Insiders don't have enough stock." So take going private deal off the table and any outsider offer will be a lot higher.
Probably also said: "You also have to consider some of the crazy shareholders you have ... like that lady who fought her stepkids in a Will contest ... went on for years; then appeals. Going private won't work ... you'll be tied up in court for years."