Thursday, January 26, 2017 10:36:13 AM
BUT they also spent a lot of money, out of there own pocket, for several years filing and maintaining their SEC documents. There was very, very few shares sold prior to the LOI, so they paid several hundred thousands of dollars upfront, without knowing if/when they would find a merger candidate.
If they continue selling shares and tank it, knowing the merger is dead though, that is BS.....that's not only just underhanded... it's illegal.
Yes, I'd fully expect a sell off AFTER the merger was officially terminated and the public found out....but NOT before, thats insider trading.
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