Fiduciary responsibility
Message ID: 175397
Posted By: crunchie812
Posted On: 2004-09-01 09:13:00
Subject: Fiduciary Responsibility
Recs: 32
It should be reasonably clear to anyone following this case that it has gone from a long shot at a big payoff to a reasonably sure bet to incur damages and court costs. Red Hat and IBM are almost certain to receive damages for Lantham act violations. AutoZone may receive at least court costs, and quite possibly damages. Novell is probably owed 95% of the Sun and Microsoft fees.
At this point it seems that guaranteeing Boies an additional $31 million to pursue a losing strategy to the bitter and hideously expensive end is an almost certain strategy for achieving bankruptcy.
Boies gets the meat, 2/3 of the available cash. IBM, Novell, and Red Hat can gnaw on the bones. The poison pill plan protects the shareholders of record (insiders) and management and screws the rest.
A perfect and complete betrayal of fiduciary responsibility to the rest of the shareholders.
But isn't that the point of a pump and dump scam?
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Posted By: crunchie812
Posted On: 2004-09-01 09:13:00
Subject: Fiduciary Responsibility
Recs: 32
It should be reasonably clear to anyone following this case that it has gone from a long shot at a big payoff to a reasonably sure bet to incur damages and court costs. Red Hat and IBM are almost certain to receive damages for Lantham act violations. AutoZone may receive at least court costs, and quite possibly damages. Novell is probably owed 95% of the Sun and Microsoft fees.
At this point it seems that guaranteeing Boies an additional $31 million to pursue a losing strategy to the bitter and hideously expensive end is an almost certain strategy for achieving bankruptcy.
Boies gets the meat, 2/3 of the available cash. IBM, Novell, and Red Hat can gnaw on the bones. The poison pill plan protects the shareholders of record (insiders) and management and screws the rest.
A perfect and complete betrayal of fiduciary responsibility to the rest of the shareholders.
But isn't that the point of a pump and dump scam?
------------------------------------------------------------
The text of this Yahoo Message Board post has been licensed for
copying and distribution by the Yahoo Message Board user "crunchie812"
under the following license:
License: CC Attribution-NonCommercial-ShareAlike v2.0
------------------------------------------------------------