Up until 6 weeks ago, the company was salvageable but not anymore. According to my contacts, when a group of Canadian investors requested assistance from the American Investors Alliance refused and sided with the wrong camp (Gib's plan). Now, EFFC is dead regardless of what some might think. Suing Bain and Belanger is possible; however, it's useless except for personal satisfaction and at what price? Stopping the BK is impossible with the debts of the company and no resources.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.