Replies to post #5012 on SideChannel Inc (SDCH)

[vCISO]

Smoke....so your saying a company did basically the exact same thing that posters here have been saying.....this company your talking about , did a r/s and protected shares making themselves rich while eliminating all the pre r/s stock holders. Now after several years that same company is healthy and wealthy but is being sued by those same pre r/s stock holders?

Can you please provide us with the company name and also a link to the class action lawsuit.

TIA,

[grouchy]

Nope, FINRA has not approved it yet, as SB has noted. It was NOT approved because of the financial reporting state of the company.

In regards to the suit, you can sue for anything. Question is, do they win. If they win then this is illegal and FINRA should also be part of the defendants of the suit. FINRA is supposed to keep illegal things from happening, that is their oversight role.

An R/S does NOT wipe out the old shareholders, it just changes the number of shares they hold. The value before the R/S for those shareholders (ie, the cash value of investment before = cash value after) does not change. Of course, if you do NOT want to get to NASDAQ, keep the price per share down...