Bernard, like you I watch and invest in these stocks because it is fascinating to unwind the regulations and transactions and motivations. It beats watching TV to a geek like me.
I am also old and decrepit, from years of professional worrying on behalf of others. Now retired.
In Nevada one must prove a fiduciary duty was breached and that the breach caused a loss. It's much easier to prove such a thing if there is some bad action or fraud committed by the fiduciary.
The $1 million sale of IP to Ply was probably a good move, if bankruptcy loomed. The HINKY part that I see is that Kyle and Jake have negotiated new jobs out of this, so they had better do a dang good job of banging the drum to make this a good deal for shareholders too.
It's almost a de facto merger, one done underground to toss the shareholders. That's not a totally clean exit plan.
Clearly they will profit, business as usual aye? A more shareholder beneficial transaction will solve a lot of problems and quell litigation. The Winthers must know that.
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