Re: Guys--enough
in response to
by
posted on
Oct 29, 2009 09:23PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
GW - If a company goes bankrupt that is publically held there will be a huge investigation into statements.
It comes down to looking at the specific statements to know if there is liability.
If Fung says "we have never had problems getting financing so we don't see a problem now" and then we go bankrupt, this would be tough to prosecute. It is a speculative posture. If however Fung says flatly that "KRY will not run out of money" or "KRY will not go bankrupt" then these would be statements that could be actionable.
RM has always been careful to make statements that are vague enough to not be actionable such as "KRY has no plans for bankruptcy". It sounds like a confirmation KRY will not go bankrupt but it really isn't.
This is however RM's job. I have seen some copies of posts from other members that answered some questions. But from the availabel information there is nothing that KRY has said in my opinion that could be held as actionable if they go bankrupt.