Send PM
Followers 42
Posts 4091
Boards Moderated 0
Alias Born 07/30/2007

Re: galaxyrangers777 post# 16250

Saturday, 08/06/2022 10:09:11 AM

Saturday, August 06, 2022 10:09:11 AM

Post# of 16410
A shareholder suit isn't impossible (under certain conditions):

but it would be expensive, and possibly cost more than any monetary award (for all shareholders) if you prevail.

You write "we have been taken by a clear case of massive fraud from top to bottom," but I'll bet you wouldn't prevail on that, since there IS an operating company, and the ONLY reason the SEC revoked WCVC's ticker is for failing to file, NOT for fraud (which the SEC surely would have said something about if there was fraud).

It's true that there are now out-dated webpages (2019) which promise 'increasing shareholder value', but I don't doubt that COVID-19 affected the company (as it did many others), and forced a cancellation of many plans that might have increased shareholder value but for the pandemic.

Should WCVC spend a few bucks to clean up its now misleading-for-being-out-of-date webpages, and if they don't (which they haven't), is that fraud? Maybe, and I don't know. But again, the SEC didn't go after the company for fraud. I'll bet there are at least a few now-abandoned former thriving-business buildings that still sport signs that say something to the effect of "Come in for a GREAT deal!!" Is that fraud?

Besides, no one can become a new shareholder, so no one can buy shares based on those old webpages that promise an increase in shareholder value. (That's the way the SEC 'protects shareholders.")

Sorry for the lecture, as I'm just as unhappy as you are about this. The most satisfaction I get is writing grumpy/sarcastic posts.

[Side note: I haven't entirely abandoned the hope that the company will file a Form 10 and trade again, but as mentioned, I haven't seen any recent evidence that supports that hope.]