I've communicated with both law firms regarding the expansion of the class period brackets to include those shareholders who bought CNOA in 2011, yet that would require the lawyers to show a potential instance of tangible wrongdoing in 2011. Given that the company had "wisely" remained utterly silent this year, it would be a difficult task. I suppose simply disappearing does make wonders in PinkSheets world after all :) While I did have some major CNOA trades within 2009, they resulted in profit, and thus I am not an eligible class member for the class period proposed by both law firms.
But at the end of the day, the lawsuit is more of an effort to get the company to say something rather than anything else. In my opinion, the chances of recovery of any meaningful damages via such lawsuit are slim at best.
This post is my personal opinion. I do not provide investment advice.
i.t.m.d.
