Replies to post #28849 on Box Ships Inc (TEUFF)

[temp luvs amy]

make this a profitable working business again.

I'm all in favor of that, but that's not the apparent objective of this legal action. Correct me if I'm wrong.

preferred shares have no claim on the company.

IIRC, common cannot get paid a single penny until the preferred is paid. That seems like a very large claim on the company.

[temp luvs amy]

As far as those vulture capitalists who converted the preferred to common on the deal with B, I seriously doubt they were buddies, just opportunists. Any "buddies" who cashed out were likely influenced by publicly released downgrades, sold at market prices, lost a lot of money and caused the major drop in value.