RE: Shlomo Ben-Haim1 Aug 2024 22:39
Doug, I have great respect for you ever since the highs of the AST days but it does sound like you're barking up the wrong tree.
You keep mentioning lawyers could potentially proceed for a fee of 10% of the $275m daap deal BUT what if there is no $275m (and its all in Amit's mind) AND there is no chance of extracting money from Amit's own assets then surely the only remaining option is a huge upfront payment with no guarantee of a final payout which I'm sure most shareholders wouldn't agree to.
Also, IF the $275m deal was indeed genuine (lol) then in order to proceed with the 10% fee you would legally need approval from every shareholder including Amit which obviously isn't going to happen, which means the $27.5m lawyers fee will have to be paid out of the share that the shareholders who are taking the legal action themselves own, you can't pay those fee's with other people's money even if the aren't likey to see a penny of it anyway.
My view since delist is that a Class Action (via Tim maybe) is needed not for a payment but to force Amit to show all the evidence of the daap deal in a court of law and under oath, that would be very interesting to watch.