Cardinal Resources Inc fka CDNL

[1manband]

Is anyone on this message board competent to contact an appropriate securities law firm on behalf of shareholders? Like, immediately? We really can't let them get away with this!

Too late. In order for a class action lawsuit against the Company and its management to be successful, you need to have a change of recovery. CDNL is insolvent. They are worse than broke. Even if you won, you would have no chance of recovery. No lawyer would take the case.

You also have to consider something else. CDNL is a Nevada corporation. One of the reason so many companies, especially scam penny stocks, incorporate in Nevada is they permit full indemnification. What that means is that they allow the Company to indemnify all officers and directors against lawsuits in regards to their service in those capacities. So, even if you won a case against the officers and directors personally, the Company would be responsible for not only covering any award, but also paying for their defense. You as a shareholder would be suing yourself, and any award would come out of your own pocket.

This is one reason why many institutional investors won't touch a Nevada corporation.