Very good post. Holders should read this and then read it again.
Class action is always thrown around like a rag doll when companies face very stiff headwinds.
And you know what? If the company goes under exactly who is that you would be expecting to pay the amount that might be awarded in a successful "class action"? And how long do you have in your life to wait?
Lastly, the only way to get money outside of asset sales (in most cases) is to prove negligence / malfeasance / breach of fiduciary duties on the part of the Directors and then have the insurer (who is providing professional indemnity insurance for the liable directors) cough up.
Ok ... I suppose you could that.
Just one more thing - which law firm will spend the up front funds to initiate a class action or, do the holders (some or all) provide the dollars?
Move on folks. If you chose not to sell back at $2.00 to $2.46 after the recent calamity then the consequences of that decision are on you today.
Live and learn folks. Class action - maybe but it's a long way off and a long shot.
In my view RFG has more chance of returning to $5.00 before you will see even a hint of a class action.
Just my view.
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