Medquist (fka MEDQ)

[jimmybob]

Looks like the CEO is some Scammer ~ looking to line his pockets ~ may be able to line ours as well...

Phillips is the CEO:

Since 2000, when Philips gained control of the Company, MedQuist’s shares have been delisted from the Nasdaq Stock Market, depriving the Minority Shareholders of an efficient marketplace in which to sell their shares. The loss of such a marketplace, of course, does not significantly affect a control shareholder, such as Philips, which has derived substantial ongoing benefits from its investment. On Philips’ watch, relative to the $51 per share price paid by Philips in 2000, the Minority Shareholders have seen the publicly traded price for their shares plummet to approximately $8.25 per share (representing an 84% difference).

Additionally, the Individual Defendants have proposed that the Company issue a significant dividend without any business purpose, other than to facilitate CBay’s financing of the purchase of Philips’ MedQuist stock.