Replies to post #30090 on VirTra Inc (VTSI)

[ztect]

I wrote without director's insurance an attorney will not take this on a contingency....please accurately quote what I wrote.

Thanks

[ztect]

Did you purchase these shares before March 11, 2011?

Of course you'll buy on the dip. The proxy is written for future shareholders not current ones.

Do you not believe that the company would be better off to support the PPS pre-split to maintain current share holder value, rather than they acknowledged that they are willing to do post split?

I think your arguments to prove fraud based upon a course of action approved by current holders wouldn't hold water. They could easily argue that the price correction wasn't their intent and that they we're just mistaken. They will also argue that they specifically mentioned that "at the time" of the proxy and during the cc, there was "no pending" interest in selling the company or taking it private (which was noted), though due to the loss of market value and the required costs to support the stock price that those circumstances changed .

[ztect]

fyi......................

Directors and Officers Liability Insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, to cover damages or defense costs in the event they suffer such losses as a result of a lawsuit for alleged wrongful acts while acting in their capacity as directors and officers for the organization. Such coverage can extend to defense costs arising out of criminal and regulatory investigations/trials as well; in fact, often civil and criminal actions are brought against directors/officers simultaneously. It has become closely associated with broader management liability insurance, which covers liabilities of the corporation as well as the personal liabilities for the directors and officers of the corporation.[1]

source: http://en.wikipedia.org/wiki/Directors_and_officers_liability_insurance


So in other words your counterpoint about indemnification is besides the point, and I stand by my original statement that no attorney will take on a class action on a contingency if the company's officers don't have D & O insurance since that insurance insures that the company can cover any financial judgment won via the class action