How can same people who brought it public at $7 buy the company back at 40% discount? The company is not in any trouble, business is booming, IPO cash is still there, $2.21 per share at least. How did the board calculate $4 buyout? Book value is $4.18.
Since it is a simple majority vote, minority shareholders are screwed. Why is this allowed? Any class action suit I can join, please email me directly.
This is a theft, pure and simple.
Based on information provided by Shanghai Hawks, here is the list of Chinese companies Mac Down brought public: