Bourque Industries Inc (BORK)

[KZMike]

Why Investors have not taken legal action.

Flatcat your post is good info about the subject.

Fair question about why investors have not taken action.

I have previously, on another company, filed a complaint with the SEC under the whistle blower program. If the SEC minion believes that there might be a valid complaint they put the complainant in contact with a securities lawyer.

The first thing the lawyer wants is documentation. Opinions don't cut it. They are quick to dismiss a complaint if it falls in the reasonable realm of computational error. If you can document where someone violated the law then maybe they are interested. Until an SEC lawyer at least has a telephone conversation with the whistle-blower, nothing is going to happen. Multiple complaints, without documentation, do not have any sway on the SEC.

The only documents I have are the sorry state of my BORK investment. I have no paper evidence to back up any opinion of wrong doing.

If I were to hire a lawyer to file an action, I would have to put up a substantial sum to cover lawyer fees and office fees to effect a discovery, if a court would even allow such discovery without some form of proof of wrongdoing. Loss on an investment is not acceptable to the court. Statements by company officers, that were made based on available facts at the time of the statements, and now are not valid due to present circumstances are not acceptable to the court to prove wrongdoing.

The end result of a successful lawsuit is what? BORK doesn't have any money and there are already creditors lined up for whatever value remains. I am not inclined to pay for a lawyers next car and get nothing in return. Further, it is not my inclination to pay a substantial sum for possible justice when that money is better used for cat food.

I have my opinions and speculations of what has happened but I do not have any concrete evidence appropriate for a court.

My guess is that everything, in the public domain, concerning wrong doing has already been filed.

As usual a well thought out and informative post.

KZMike