TheDirectory.com, Inc. (SEEK)

[Carini]

On what grounds would you sue? Even setting aside the forward looking statement disclaimer that would shield him from an action by common shareholders, SG has made it abundantly clear for a long time what his intentions were. Namely, to clear SEEK's debt regardless of its effect on the share price. The filings clearly state that those "debt reduction" activities would continue through 2014 and "possibly into 2015" is I think what it said. That combined with the huge increases in the O/S, which anyone who read the filings or called the TA could have discovered, gives you little room to argue you were misled. Rather, you made a reckless investment in a pink sheet company run by a CEO with a history of doing exactly what has happened, which the SEC has repeatedly warned investors against.

When you walk past all the warning signs and jump the fence at the zoo and climb into the bear cage and get bit, you can't complain from your hospital bed that somebody should be investigating the bear. ;)