Reliance Global Group Inc (RELI)

[shanak10]

Let’s hope the company actually executes so shareholders don’t actually start suing, because it looks like that’s where this is headed. I want this to succeed more than words can describe. But that is looking less and less likely as the days pass. A LOI from 7 months ago and we haven’t heard a peep about it. You realize everything is essentially riding on that deal closing, right? Are you not concerned at all?

So let me get this straight. I personally have no idea what the status of the LOI is but you are telling me that shareholders will sue if the LOI is not executed? Do you know what is written in the LOI between the 2 companies? As far as I know In a business-to-business transaction, a letter of intent normally contains a provision stating that the letter is non-binding.
I am reading on this board a lot about suing the company and I am not sure what the shareholders are suing for. Do you mind sharing with me what the lawsuit is about?