I have waited for the dust to settle on the Star controversy with AF and the Street. To say the least, Star's refutation of AF's assertions was not convincing enough to silence AF. And his refutation of Star's refutation invites, if not begs, Star to come out and lodge a lawsuit. His last sentence tells the story..."Talk about misleading...." Talk about accusing Star of fraud, I don't know how much clearer AF could be. Unfortunately, while it is understandable to want to avoid the nuisance and costs of a lawsuit, Star has no other choice in this matter. In order to safeguard the interests of its shareholders and to convincingly allay concerns about misleading and deceiving actions, Star needs to strongly react to accusations which essentially accuse Star management of committing a crime. Star can no longer engage in an exchange with AF. Star must now come out with a lawsuit against AF and the Street. This will serve to confirm Star's credibility and honesty wrt to its relations with Ladenson and JH. If AF's assertions are false, his articles were defamatory and have caused great damage to the image of Star and the value of its assets. Silence cannot now be the answer and the silence is deafening!
By remaining silent, one can reasonably conclude that there is some substance to AF's allegations and that Jonnie's image as an unabashed, self-dealing huckster(just witness what he and his "friends" got in return for their magnanimity in funding Star; ordinary shareholders were not invited to this gravy train) remains intact. Is this the kind of outfit that Wall Street would believe? Would really credible financial institutions cover Star rather than the scandal ridden Guilford Securities and its huckstering analyst Otis Bradley----who told everyone near and far of the billions that Star would receive from RJR and that in 2013, Star would generate $400 million in revenues from Thyroiditis sufferers alone???!!! Why even longs like Izoff unabashedly comment that Star could generate as much as $1 billion in revenues in 2015 and as a long standing investor, he should know better than to join the huckstering carney barkers. He is no better than Cox, FizzleFazzle and Bradley. In fact, all three remain curiously silent in face of the latest broadside by AF who accuses them of at least misfeasance if not malfeasance.
There can be no question that Star's image is now one of a three card monty scamming outfit and AF has served to brightly burnish this image. Star needs to turn this around. It MUST file a lawsuit forthwith. And win.
And Star board members must start to consider changes in management at the right time. Jonnie and his lawyer side-kick may, of course, continue as shareholders if they believe in A-BLOC, but they are unfit to continue as executives.
I also think it is time for the SEC to investigate not only AF and the Street, but also Star and its self-dealing, huckstering management. Long suffering longs deserve no less. So far, Star's handling of this situation has been just discouraging.
Sincerely in honest investors' interests,
Yours ever truly,