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  • centralstationamsterd centralstationamsterd Apr 22, 2013 1:19 PM Flag

    This will get de-listed and soon be under 1.00

    This is a strong sell at these levels.More SEC actions could be forth coming

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    • It could definitely go under 1.00, but the SEC will not be the reason...... The reports by the outside forensic auditors will be submitted to the SEC, which is procedure. The books will be correct.

      • 1 Reply to scoler72
      • Scoler,

        I admire your persistence in answering these meaningless postings by Multiband holders and regular posters.

        It is pretty clear that none of them understand securities litigation or the merits of the matter (centralstation, for instance, is clearly confused as to whether left, has left, will leave -- when, in fact, the CFO was terminated.)

        The stats on securities litigation are, of course, quite clear and simple and, therefore, point to what happens next: Approximately one third of securities class action suits are dismissed, two-thirds settle, and hardly any go to trial. Moreover, securities class action filings were down to 152 in 2012, probably a marker of how difficult it is to establish a case.

        My guess -- and therefore money -- is on this matter being dismissed against Unitek, the only party that I truly care about, and the new CEO after six to nine months of legal back and forth and volleys of motions back and forth. I base this entirely on the fact that there may be an underlying fraud against the company and that the CEO is relatively new.

        I assume that the company has indemnification insurance for its officers (D&O insurance,) given the scope of the employment agreements, but I have no idea if it has general corporate indemnification insurance or whether or not the D&O insurance extends to former officers such as the terminated CFO and the former CEO and non-officers such as the terminated principal from the wireless division. Therefore, it is going to be hard to know if the expenses incurred in the matter will fall back on the company and the individuals. We will see, I guess.