From my perspective, the blind-siding of shareholders was not the SEC's temporary suspension of trading on 2/19/2010. It was EGMI's disclosure on 2/20/2010 that effective 2/12/2010 EGMI's auditors had "withdrawn its audit opinions for EGCI’s financial statements for the years ended December 31, 2006, 2007 and 2008" because it had "become become aware of irregularities" and that it had "concluded that its prior audits could no longer be relied upon."
Particularly at this stage, I believe the SEC can be a valuable resource for shareholders -- and perhaps much less expensive than class-action lawsuits.
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