Re: Class Action Law Suit
in response to
by
posted on
Oct 28, 2008 11:35PM
The company whose shareholders were better than its management
Fearless, nice to see you Post again and to learn that it's your intention to proceed with your Case against our dishonest, greedy BOD and their inept handling of our asset.
Will u be Filing in the US or Canada? I hope in the US so others can join u regardless of what Territory of Canada they reside. ARU was listed on the Pink Sheets so maybe the Case would be allowed to be heard in the US. I sure hope so.
Personally I think the US would view their actions dishonest and not in the best interest of their shareholders, just themselves, more so than in Canada. I know nothing of what I'm saying just formed that opinion from the limited things I've read. Pls consider letting us know.
You know of course you're in an position envied by most of us and one we would like to be part of but … as always … It takes ready funds. Most of us didn't have that much to start with but this Market has wiped out the liquidity we would have depended on to fund such a Case. Add that to the archaic Class Action Rules in Canada, Residents of each Province required to act individually, and all hope of a Class Action of any consequence is discouraged. That's what I was told anyway. If so, It's little wonder that our Cdn Mining Industry is considered corrupt and dishonesty is allowed to run rampant screwing the retail shareholders at will.
Likely that's the reason the OSC isn't serving the Retail Shareholders at an acceptable level being the purpose for which they were formed.
Anyway Fearless, Good Luck and u have my very Best Wishes for a successful Verdict. Gosh I hope you're successful.
It's going to be challenging due to the melt down but these conditions didn't prevail at the time of the negotiations - if there even was any negotiations! ARU had funds to last a year - as I understand - and Patsy isn't intelligent enough to have foreseen in July, the Banks tightening in October.
If u need help gathering News Clips, Dates or whatever, Post on the Board.
Our thoughts and Good Wishes will be in your back pocket!