Agree, as shareholders we have 2 fundamentally significant rights.
#1 the right to elect directors
#2 the right to sell shares
From #2 that is one of our customary 2 ways to profit - sell our shares or receive dividends from residual profit after all other claims have been met.
Our second right was dented this past week. That's a "cost" in our freedom as shareholders and possibly to trade in the run up to a trial if this gets there.
It would have been my strong preference for UOIP to have remained on the pink sheets. However, I can see how for Carter (& Leane and the inventors) as majority shareholders that particular right is not as meaningful as it would be to us retail investors. They also are closer to the action and involved in the negotiation talks: knowledge is comfort. We don't get the benefit of that knowledge to make decisions with respect to sell timing. Mostly, I see it as a pity because I somewhat viewed our chances of market exuberance in the lead up to a trial as providing me more than a negotiated settlement. That scenario analysis is as (in)valid as any other. One's viewpoint is likely size dependent - just as it is for those with inside holdings. Those with enough invested might not want or be able to take it all off the table (like the insiders) and hence the angle from which they are "judging" others who maybe have grocery spending or maybe a vacation invested here or perhaps coinage somewhere between the cost of a cayenne and bugatti.
I'm curious with respect to diversity of citizenship - with UOIP incorporated in Delaware, but with the terms of the agreement (Misc. - Section 8.2) with Chanbond noting that governing law would be the State of Texas - eastern district --as minority shareholders, Texas would be pretty rough on us anyway (see Ritchie vs Rupe 2014). Delaware does a much better job of mitigating minority shareholder oppression. So, not to fear for those concerned that minority shareholders have too much power (social responsibility advocacy I believe is the usual complaint).
Any of us speculating in this UOIP shell - have with respect to this ticker shown a preference to invest for skewness in portfolio returns like buying an out of the money call option. This week I reminded myself of that old bumper sticker - "Gas, grass, or a$$ - nobody eats for free."
