FYI
Subject: IMX Acquisition Corp.
All,
Attached is a copy of the (third) letter we sent to the US Trustee late yesterday reiterating the request for the appointment of an official committee of equity holders. We have also left voice mail messages with the US Trustee urging immediate action. In the event the US Trustee does not immediately respond or determines not to appoint an official committee of equity holders, shareholders may petition the Court to request that the Court direct the appointment of an official committee of equity holders. If we do not hear from the US Trustee (or US Trustee declines to appoint an equity committee) by Monday morning, we recommend that you do exactly that.
Monday, October 24th at 11:00 a.m. is the deadline for any objections to the proposed sale and bid procedures. To avoid any prejudice of your rights due to the passing of the deadline and to preserve the rights of shareholders, we recommend that (i) we prepare and file prior to the objection deadline a Motion requesting that the Court direct the appointment of an official committee of equity holders and include in that pleading a preliminary objection to the proposed sale and bid procedures; and (ii) appear in Court on your behalf at the hearing scheduled for October 26th at 11:00 a.m. to consider the proposed sale and bid procedures, and if allowed by the Court, on the Motion for appointment of an official equity committee. We would indicate to the Court that we are acting on behalf of the consenting members of this group to protect shareholder rights pending the appointment of an official equity committee. We will circulate a draft pleading for your review and approval prior to any such filing. Please note that if we file a pleading and/or appear in Court on your behalf, we must disclose to the Court your name and amount of holdings in a separate statement.
Please respond affirmatively to this email, with a copy to Linda Charron who is also copied on this email, if you authorize us to prepare and file the pleading outlined above, to appear in Court on your behalf at the October 26th hearing and to include your name and share holdings in a statement with the Court. We will only file the pleading and appear in Court on behalf of those that so authorize us to do so.
If you have any questions or would like to discuss this further, please feel free to contact me or Bill Baldiga.
Regards,
Sunni
Sunni P. Beville
Counselor at Law
Brown Rudnick LLP
One Financial Center
Boston, MA 02111
T: 617.856.8475
F: 617.289.0457
sbeville@brownrudnick.com
www.brownrudnick.com
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