I agree, the height of arrogance and opportunistic. And you can’t blame them for taking advantage of incompetent management.
But they are right the company was very, very poorly run with an even worse standard of oversight by a board which at best was negligent in its duty of care to shareholders.
On the other hand Chairman’s letter to shareholders is no less arrogant nor delusional. He and his board have failed the shareholders in allowing the previous CEO to destroy the company and walk away scot free of any accountability.
No point getting angry with Gallin, your anger needs to be directed at the Chairman and his board.
MCP Price at posting:
$1.42 Sentiment: Hold Disclosure: Held
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