Optec International Inc (OPTI)

[Olderandwiser]

Brett’s explanation for the derivative lawsuit:

Thanks to tdbowieknife for his tagged post #89317.

For all, here’s the text of some recent tweets by Brett Rosen:

“A derivative action forces Pawson out and someone else takes over $OPTI. A class action would take years and there wouldn’t be any restitution for anyone.” 5:58 AM Dec 24, 2022

“This little contraption known as the #fuelmaximizer is going to be a key part in making everyone whole that got screwed by the lies and deception!” 7:22 AM Dec 24, 2022

“First step is to get Pawson out and put a real executive team in place, then I think the stock price will go way back up on its own! I would also want to make sure a share buyback program is put in place.” 3:22 PM Dec 25, 2022

My 2 cents:
1. Brett wants to replace Roger so that OPTI can become a viable company. Doing or selling what? The Fuel Maximizer (patent & product) that Brett mentioned hasn’t been proven to work, and neither have Pawson’s other claims/scams.
2. I doubt if any significant OPTI assets (especially after liens, lawsuits, and/or other actions are settled) could be left “to the corporation”. As we know, Roger even lost the OPTI house to foreclosure.
3. If Brett or someone else takes over OPTI, will they or OPTI be liable to creditors and others for Pawson’s actions as CEO, BOD, etc.?

Reference: money recovered from a derivative lawsuit goes to the company:
https://www.cohenmilstein.com/update/securities-litigation-101-understanding-shareholder-derivative-lawsuits

“While plaintiffs in a securities class action typically seek to recover monetary damages directly from the company and individual defendants, the goal of a derivative lawsuit is to address corporate governance and/or internal-control weaknesses that exposed the company to reputational and financial damage. While a settlement may include a financial contribution from defendants or their insurers, that money goes to the corporation - and is frequently tied to commitments to effectuate corporate governance changes to enhance the company’s long-term value.”