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Wednesday, September 07, 2011 2:20:35 PM
And then...a few months later...this transpired...MMTC, the Board of Directors, approved a "settlement".
So, what you need to look at are these allegations (already highlighted, above, in red):
Speculation #1: "unjust enrichment by the Company" How do you think that may have been, allegedly, attempted? Perhaps...by, supposedly, selling shares? "Unjust enrichment...by the company." Hmmm...Or, they just kept Divine's money and wouldn't let them convert it into shares? If so, then why?
Speculation #2: "fraud" Perhaps...from, supposedly, selling unregistered shares before the restrictive legend should have been removed? Perhaps...from, supposedly, selling shares through a third, undisclosed party that, if existed, may have, in turn provided a possible "return"? Or, they just kept Divine's money and wouldn't let them convert it into shares? If so, then why?
Speculation #3: "breach of fiduciary duty by the Company’s officers and directors" Perhaps...by, supposedly, selling shares, in some manner, without apparent disclosure and possibly diluting their shareholders' positions? To the extreme, or any, detriment of said shareholders? Or, they just kept Divine's money and wouldn't let them convert it into shares? If so, then why?
These are VERY SERIOUS charges...that were brought and then...settled.
Here's the relevant time period (lawsuit was brought on May 11, 2009 and was settled early September 2009 > from under ~$.02 to over ~$.17) on a chart:
Who's to say that the exact same scenario, whatever it may have been, hasn't repeated itself?
The above speculation is obviously all just my speculation, my opinion. I do find it interesting, though, and it's too bad that the case, apparently, didn't play out in a court of law. Now THAT would have been...a...spectacle.
JMO
Good day.
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