I am hearing in the investor circles several law firms are looking at filing lawsuits to block this sale. I work in the financial industry and have been following this situation for an advisory firm .
Several of the largest shareholders are funds and banks and they were not consulted regrading the incredulously low sale price.
Injunctions may be filed to block the sale ad force a shareholder vote.
Stand by, not over yet
I'm surprised the purchase price is so high, but it is true that there are many risk factors that could still result in no sale.
Really OP, you just had to try to get one last jab in to try, once again, to incite panic. Can't you people just let it go and quit trying to start shit! A sale of all CCI brands is in everyone's best interest so just let it go. Quit starting shit!
With the dollar amount they received, bankruptcy may be the better option. This does not always lead to shareholders being wiped out. Look at American....
I call shenanigans! The sale has been public information since July. I'm sure shareholders knew of the sale, any law firm willing to block this sale is looking to make fees.
Well shareholders here are your choices Sale or bankruptcy.
Here are your rights as a common shareholder, having say in liquidation:
http://www.investopedia.com/articles/01/050201.asp
Big money was affected negatively by this deal.
Shareholders do have rights.....in general , decisions involving these types of transactions , large shareholders will be consulted. I suspect there was no discussion as the funds never would have approved such a shockingly low sale price.
Unless the are on the board they have no legal gal case