So GEO says the company is a scam and really doesn't own the properties and mines it the company says it does. LLEN's response? We're going to form a committee and investigate the claims. NOT a denial...you would think the company would say GEO is wrong and that we own everything we say we do. Nope, they are going to form a committee to investigate. REALLY!! What a strange response.
Look if they say it, it holds no weight and becomes a he said he said and everyone bails. If the independent findings come back in LLEN favor, the stock flies. I'm quite sure their lawyers advised not to engage in the he said she said, but they did call the aritcle defamatory which is essentially total denial.
I disagree with your opinion. A firm denial is what was needed. This should not be a " he said, she said" situation because there should be question as to LLEN's holdings. Saying there are going to form a committee to investigate the problem is a very weak response. Gives more doubt to LLEN's position and more credence to GEO's assertions.
How about a response at 10:00 am that said do not panic over these defamatory accusations we intend to refute them fully and are standing by our investors and company! Where was that? Instead there was a childish silence & no investor allowed wall put up! Both sides in this caused great harm to investors and need to be charged!