When is the judge due to make his decison on whether the frauds can have the vote on their sweetheart deal?
sorry I meant he would either prevent the meeting from taking place or prevent the sale subject to more information on the facts. Enjoin in this context would prevent something from happening. Its rare that a judge would prevent something from happening unless the facts were unclear or there was more than a hint of something not correct.with respect to behavior or dealing. I think the long term prospects and the short term ones are excellent for the company, think the sale was premature and if the logic behind selling was fear of future performance there would be no sale now and insiders would not be rolling their interest.
This is one of the those perfect company's; great growth prospects, wonderful financials, no debt and the ability to sustain growth with both internal cash flow and through purchasing other similar businesses'. I am also a little confused with the purchase price of $1.6b at $32.00 per share. There are 43.5m shares and even with options etc the total is about 46.5m so the price should be 1.6b divided by 46.5m shares or about $34.00 per share afrer a provision for $25m in expenses. Interesting.
" think the sale was premature and if the logic behind selling was fear of future performance there would be no sale now and insiders would not be rolling their interest. "
That's what the conflict of interest is all about, and why they accepted Permia's lower offer, because ACOM CEO Sullivan and COO Hockhauser will roll over most of their equity stake into the private company.
In other words, they sold us out in order to keep their equity positions in the company, and will therefore share in the continued profits of the company.
So much for their feduciary responsibilty to all shareholders?