Replies to post #18943 on GTC Biotherapeutics (fka GTCB)

[nsomniyak]

how can this be worse than what has happened to date?

Perhaps LFB will do better by me than GTCB management did...

[croumagnon]

Bottom line for GTC investors and prospective investors: You are now effectively a minority shareholder with no protection from exploitation by the majority owner, LFB. If you continue to invest in GTC in spite of this, you deserve what you get.

This is true but the minority shareholders of Genentech did quite well over the years as you know...

[cleith]

Dew,

I can't disagree with you on these points, and I am not happy about the current position we find ourselves in with GTCB / LFB.

But, you might also recall that back in Sept, Oct, and Nov 2008 before we had the special meeting vote, I was one of the loudest opponents against the vote. I did not like it then, and I still don't like it now. But, it is, what it is, and my voice was muted by the majority who voted "Yes".

At that time I had to think long and hard about my investment in GTCB to determine if I was going to stay long or take my losses, and since at that time I had suffered a 90% loss, the damage was already done. So in my mind, what does it matter if I loose the remaining 10%.

Today, I am still treading water with about a 90% loss. Not much different than 8 months ago. 8 Months from now, I may be at a 100% loss.

[DewDiligence]

Vinmantoo continues to mislead posters on the Yahoo board by implying that GTC’s minority shareholders have the same kind of protection from a lowball buyout by LFB that Genentech’s shareholders had from a lowball buyout by Roche. This is patently false, of course.

DNA’s minority shareholders were protected by a formal contract between Roche and DNA that spelled out the exact conditions under which Roche could buy out the minority shareholders. GTC’s minority shareholders have no such contractual protection.