Re: Class Action Lawsuit
posted on
Dec 08, 2008 09:49PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Artie, I don't see this attempt at a class action suit getting very far. I don't think it was even done for the purposes of being a lawsuit.
IMHO there are a couple of reasons this may have been done. One would be to try and drain our cash before the end of 2009. This would work for someone trying to keep the price down and drive us bankrupt.
Another reason would be to try and break the spirit of the remaining individual shareholder so they sell.
A third reason would be to keep our share price down when we do get the permit. With a possible lawsuit on our hands we wouldn't get the full bump a permit normally would bring. There isn't enough cash to make any kind of payout if the lawsuit went ahead and they won so it certainlt can't be because they think we won't get the permit.
Another reason would be to scare off financing from getting involved with Kry.
There is a positive spin we could make of this. We can use this potential lawsuit to bolster our claim of damages from VZ should things turn bad and we get a definate negative answer to the permit. We can also use it to put heat on VZ to make a decision.
I don't think this will affect our price either way.