if you are a long-term shareholder how can you have any confidence in your board at this point? they tried to sell out the company underneath you for, what, 40-50% below fair market value? without even sounding out your opinion?
this is disappointing but i don't think this is over. i would be surprised to see anything other than a board shake-up, and perhaps a formal sale/strategic alternatives process. the board is clearly not aligned with the bulk of shareholders (who immediately rejected this woefully inadequate consideration), and either need to be replaced, or the company needs to find the right home, away from these feckless and disinterested shepherds.
CAA Price at posting:
$7.95 Sentiment: Buy Disclosure: Held
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