BG Medicine Inc (BGMD)

[Trushift]

Management getting a guarantee 3x their investment in preference to common in the event of liquidation / buyout, etc = SCREWED shareholders

They already know a liquidation / buyout is coming and they are making sure to pad their pockets BEFORE anyone else gets anything.

Example: BGMD sells assets to Abbott for $8 million:

Insiders (Series A Preferred) get $7.5 million + 12% interest
Common Shareholders get what's left which is next to nothing.

SHAREHOLDERS HAVE BEEN SCREWED. I'm just glad I got out of this prior and hold no position. It amazes me the amount of corporate fraud, manipulation and 'legalized theft' that occurs. Does no one have any integrity? I thought public companies had a fiscal responsibility to their shareholders FIRST!