On May 26th the adrenaline was running high, and my hope is that no one, including Joe, would make such a momentous decision without first regaining a sense of calm: jumping off a cliff to save the Queen can somehow make sense in the thick of battle; but when the clanging of swords subsides and one has time to peer over the edge the sobriety that was temporarily lost during the fight can once again gain the upper hand.
As a shareholder I of course didn't and don't want a lawsuit slapped against the Company. So perhaps I'm fooling myself. But I've tried to separate my own personal desires from the phenomenon in question, and what I see in doing so is a lawsuit that would be very difficult to prove, and hence win. No one really knows what Ted Madsen said to Joenatural; there were no court stenographers present, nothing was under oath. But we do know that two other people subsequently called Madsen and each came away with essentially the same story, and that story was different in important respects from the one Joe had relayed to these boards. If I was Joe, this would give me great pause, especially when you have attorneys chiming in on the issue and suggesting that such a case could run up $100k to $200k worth of fees and not yield anything conclusive. Nor would this be the only thing to give me pause. This is not to say Joe didn't have legitmate concerns. But, as I said, I've never regarded Joe as a fool, so I don't expect him to overlook the fact that legitimate concerns are one thing, sound reasonings for pursuing a court case are another. So I'm inclined to think he'll make the more prudent choice, which is likewise in accord with his primary concern all along: preserving his capital. Time will tell.
Steve
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