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Friday, November 11, 2011 4:37:51 PM
Been reviewing the complaint by A&P. They had such a strong case; we were forced to settle b/c the alternative would have wiped out the company or diluted to nothing. These type of mistakes are no good. The complaint actually alleged "fraud" in the way JB deal with A&P and how he went about issuing the shares to himself and the board, then reverse himself after the suit - acknowledging he'd been caught. Judge would have railed JB and probably opened the door for shareholder suits against him.
For those who have a copy of the complaint, I suggest you re-read it because it sheds new/old light on the self dealing JB is accused of in the suit.
This may be JB's last stand. I have some feelers out to A&P. I need to get first hand info on JB arrogance to confirm it is arrogance and not just me.
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