I think you are misunderstanding my point. First of all, I am not going to disclose on public message boards what attorneys or attorney has been hired, what payment arrangement was made and what specific lawsuits or claims will be filed. Also I am not going to discuss on public message boards what evidence has been collected and any details about our legal strategy. These discussions can take place between attorneys representing different shareholder groups once we get to that point.
I also don't control whether or not the Globe publishes their story or not, and it doesn't matter from a legal standpoint. If Lawrence wants to post, he can post. I am working with him because I am a shareholder and like him I have a significant number of shares. I will work with attorneys representing other shareholder groups as well and share the information I have collected.
This should be a cooperative effort. If you are a shareholder, we are on the same team. The reason I mention to contact Lawrence is because right now he is the only one that I am aware of that is consolidating information and using that information to plan for legal action. He has and is willing to pay for legal services on multiple levels. If you know of others, let me know. Lawyers also work on retainers, not just contingency, so the notion that we are trying to be lawyers or do legal work is not accurate. When a law suit is filed, its public record and it will be disclosed at that time.
Overall, I am encouraging the sharing of information "privately" for the purposes of helping other legal actions in addition to the one that Lawrence is working on. Aside from what Lawrence is working on, lets say shareholder "BOB" lives in Canada and meets with a random hypothetical attorney. He can go into that meeting well prepared with documentation, email communications, disclosures, financial analysis etc.. or he can walk in there with nothing. The outcome on whether the attorney takes a contingency based case or not will depend on evidence. No evidence, no case.
We live in the digital age now, and improprieties that were easy to hide 10 years ago, can be exposed now at lightning speed. It also makes it easier for multiple shareholder groups to share evidence and information to help build a stronger case. Public message boards are good for rounding up the troops, but we may want to consider creating a private login controlled website that can be used by different vetted shareholder groups to share data and evidence to support litigation.
Multiple legal actions can later combine into a class-action. This is pretty common. At the end of the day, this process will play out over the next 5-6 months. The statute of limitations extends well beyond that period and it doesn't limit or restrict the legal remedies that are available.
