If they had something to hide or were worried I don't think they would be proactive in doing this.
I do have a disturbing question. If this comt. was formed June 30, Attorneys signed up July 8, Why have they waited so long to make the annoucement. Geez, by now their work could almost be finished _________________________________________ Because it's all propoganda.....the shit is about to hit the fan and this is called "damage control." Their announcements are so choreographed ...yes - WHY WAIT SO LONG TO ANNOUNCE THIS IF IT IS SO POSITIVE?
Probably announcing because stock is so beaten down. Considering the way the news has hit this stock the past six months now is as good as a time as any other. Who knows... this stock always moves in the oppsote direction of what I think. So I say it will go down.
The "Special Committee of Independent Directors" consists of current CEC board members. What a joke. These are the same clowns who failed to oversee the company in the past. New name, same clowns. I am impressed, however, at the balls it took to announce this sham. It's like Major League Baseball announcing that Pete Rose has been hired to stamp out gambling.
Skinny, do I detect a little cynicism? You are right...looks like they appointed a "whitewash" committee. The law firm they hired is top notch though and VERY expensive... Remember, the SEC isn't the only agency looking into wrong-doing...I think all this bodes poorly for CECO for the short and intermediate term...When it's all over, you may be able to buy shares at $5 a piece -- I'll probably get some calls then....