Didn't know if I should post this or not, I'm not in puro but thought you might want to check this out.
As to PURO, it seems previous management issued a ton of stock to themselves and insiders who were probably affiliates. New management, not unreasonably, wants to get rid of all that stock. But they should have made sure to understand what stock had been issued and who owned it before they bought the shell.
Their problem is that they can't just cancel that stock unilaterally. They say they're investigating the issuances with a view to determining whether they were legal or not. They're hoping they were illegal, which might allow them to cancel it. But I believe they'd still need a court order.
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