Replies to post #75959 on Bancorp International Group Inc (fka BCIT)

[dicer666]

No they're not strong arming them. People with small share amounts requested to be released from all this crap and said they are willing to release the ownership of the stock to the company(i'm not sure why). Since there were some requesting this, the law firm chose to send out the letter if anyone else wanted out by doing same. If you have 1 share of BCIT and don't want to release it to the company, you don't have to.

[skiytreem9u]

I'm no lawyer, but I feel sorry for the people that actually sign this document. They may be left watching all the action from the sidelines when this thing starts freely trading again.

I'm wondering if this is some attempt for BCIT to remove as many potential shareholders as possible, as cheaply as possible.

The form states:
"The defendant has agreed to disclaim any interest Defendant has in Bancorp and surrender any and all rights the Defendant has in Bancorp stock."

According to the statement, by signing you will be giving up your "rights"!!!

A better move, in my opinion, would be to *wait* and see if the shares I'm holding are declared invalid (not by me, not by my broker, but by a judge), then at that time demand physical certifates of valid shares. It seems too risky, actually bordering on insane, to sign a document declaring your shares are invalid.

I want a legal authority to PROVE to me my shares are invalid. At which time I'll demand valid shares from my broker. I'll then have legal documenatation as evidence in my case against my broker -- no longer heresay and innuendo. At that time my broker will no longer be able to say they have no opinion on whether the shares in my account are valid or not--a judge has made up their minds for them.