When is the judge due to make his decison on whether the frauds can have the vote on their sweetheart deal?
Will Sullivan and Hockhauser get away with their scam, or will the judge start the ball rolling to do what the CEO and COO were legally bound to do - Act to increase the value for the shareholders?
I hope that he rules to halt the sale and proceed with the trial before Christmas, so Sullivan and Hockhauser will have the prospect of a SEC investigation weighing on their corrupt and warped minds during the holidays!
Bah-humbug to the principals that negotiated this fraud of a deal!
I think the decision will be soon prior to the date of the special meeting however it may not be a final answer. It may delay the vote but it more than likely will be some time before a final determination, to many facts. in any event the value of the company is solid and will only get stronger with time. If deal is enjoined there will be another buyer, but the current buyer will more than likely complete the deal at either the current price or some agreed upon increase...they already raised the money. That's the hard part.
Enjoin can means to direct something to be done, or not be done, so I'm not sure which one you you meant in comment.
Since the company continues to show strong cash flow, which will only increase due to the other services they are offering because of recent purchases of other companies, the value of the stock and/or a buyout will surely go up.
If they are successful in getting the show, "Who Do You Think You Are", back on TV or onto cable, that will help bring in more customers faster.
Sullivan and Hockhauser claimed that they put the company up for sale because they feared that the company would lose customers, or they wouldn't be able to maintain the same profits when that show was canceled.
They were wrong about that, as proven with the quarterly reports, just as they were criminally wrong to make a side deal for themselves to award the buyout to Permia, and to bar questions or bids from other bidders that appear to have been superior for the retail shareholders in the amount per share we would have received.