as I've previously said, if they band together enough third vendors/clients who have lost considerable funds, it will be a class action under a PI/IT policy, as well as banding together shareholders for a securities class action under the d&o. I think contrary to what others say, lawyers may find it easy to prove that the directors negligence is what lead to a sharp drop in the SP, which still hasn't recovered.
people keep talking about this "contractual limitations etc, however it doesn't work like that, and again, contrary to what some others may think, if it goes to court, it's almost entirely up to what the judge wants to do - unless of course they can mediate before hand".
the good news is that insurance would cover most of this, pending the directors took enough out - which in itself is a d&o exposure ....
still makes it uncomfortable for an entry for me I'm afraid, but still watching the business with a keen interest.
TYR Price at posting:
$2.67 Sentiment: None Disclosure: Not Held
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