I dont think the SEC would do anything. If vaso had lost the suit, and had to pay 5 mil, it would certainly have to have been disclosed. But, they did not lose. And, the bonuses were put into the 10k for all to read. They have no legal obligation to say why bonus was paid.
Stock price is getting very oversold. If this is a reaction to suit and other things said here, its a mistake. These are all past issues which have little to do with them going forward now that they have the GE extension. And given the very good numbers out of GE earnings for medical equipment, and Ma's profitability statement, stock getting to be a good buy again.
More excuses. And Dempsey was not a party to lawsuit. If he was the top conspirator, why was he not named as a defendant?? And why use most money from buyback to "pay him off."?
AS usual at vaso, due to lack of transparency, more questions than answers.
But it is a result of the suit vs Barron. They brought suit to get that bonus money back from defendants. Why else bring it? So, why was it not disclosed to shareholders in the 10k. Is 5 mil not material as nondisclosure suggests? And, why spend money on suit(how much did we spend on lawyers) if no damage claims can be won?
All of this cost money. But the real cost to shareholders is Ma's total lack of engagement that would allow employees to renegotiate a contract that is vital to the existence of vaso. What ceo is so disinterested? Was he vacationing in China with his family while this conspiracy was taking place. He had no knowledge that employees were meeting with GE to get a different commission structure. And steal GE agreement?
And judge said they couldnt collect damages on renegotiated conspiracy contract because there was not way to know if Ma could have negotiated a better one? Again, why bring suit. Nothing is actionable in terms of damages. Ma is a dope. Its has cost shareholders a fortune. And he gets a raise. Does anyone else have a problem with this nonsense?!
Vaso says Brett Barron cost company millions. Yet, in 2013 10k, in the middle of lawsuit, vaso says "it has been in
the past party to various, routine legal proceedings incident to ordinary business, outcome of which unlikely to have a material effect on business or financial condition of company." So, vaso omits any reference to suit.
In the same 10k, vaso says employees got 2,4 million cash bonus and 2.4 mil in stock bonus as long as they remained employed. Is this not the "morale bonuses" vaso spoke of in lawsuit that were result of lawsuit. Since when is 5 million dollars not material to an unprofitable company? This is a direct result of lawsuit that vaso says is not material and is ordinary and is not worth mentioning.
Vaso lies. Ma is complicent in these lies and shareholders bare the burden of their criminal behavior. Ma should not only be fired he should go to jail for failing to disclose company info. imho
And these bonuses go right to the sg&a. And we have missed profitabilty because..............?
Millions lost in shareholder's money; "forced" overpayment to employees to boost morale. What a friggin joke. All should read and conclude once and for all in the undeniable incompetence of Dr. Ma.
No one comments on this lawsuit.? This tells you all you need to know about why share price has disappointed the last 2 years. Ma should do us a favor and go back to china. because he has no clue as to how to run an american public company.
Amazing read? And another reason Ma is incompetent. How can an employee of a company negotiate a new contract with a company as large and as important as GE, without CEO knowing? DUH?
Bottom line here is that Ma had no clue of what was going on at GEHC until it was to late. What was he doing? Surely not working on EECP! It costs Vaso big loss in GE profits and millions in "morale" retention bonuses. And the court agreed with vaso on all claims except one; "plantiffs damages claim.' In other words, vaso collects no MONEY.
I would like to know if Ma's unjustified increase in pay package was part of the "morale" retention bonus??
What a dysfuntional company....................................................Great Job Chairman Ma.............
Also, why buy back Dempsey Shares if he was part of this nonsense? In fact, why wasnt he a defendant here along with the other 3?????????? Wake up Ma!
500 march 16 bought at 1.7
808 jan 30 16 calls bought ABOVE the offer of 60 cents
400 feb 18 calls bought at a 1/2.
All blocks and all done on offer. p/c today a bullish .27
Deal over the weekend??????????
Ma said we would be profitable. He put it in an SEC document knowing full well the vagaries of customers taking delivery of equipment. I can only hope he will no insult shareholders intelligence again and use that as an excuse. That would be unacceptable.
They wont do it on the sg&a line. They REFUSE to cut expenses in any way. Did you klnow they have an office in NYC? Do you know the lease payments on that? Do you know how many times they use office? Is that really necessary?
Hey loser, big vol in the march 14 calls are about to get more attention and spike stock again. Options 101.......u should read.
That statement is consistent with the Saudi MO for this recent oil dive; BK the frackers. It has not an ounce of truthfullness.
Those Dalio Trials were THE reason to stick around. It really gave eecp a credible shot; as management here had already decided against spending any money on the only thing that would substantiate EECP; Trials.
Its a real mystery as to what has happened there and of coarse we get no answers from Ma. Oh yea, he did say at the shareholder meeting if shareholders wanted to know they should call themselves. That's our fearless, proactive leader