Will you look at the AEC headlines on Yahoo?
Following the buyout offer for the company, every shark and his brother is trying to get in on the feeding frenzy.
There is bound to be a comment section retort that “well, this is the job of law firms, to weed out the bad deals.”
Shareholders just got bought out for a 20% premium above market, and I have followed AEC long enough to know they are getting a great deal on this.
You and I both know, somewhere in the back of our minds, that this is not about protecting shareholders. There will be a time and a place for that discussion, and it is not now.
This is about blackmailing a corporation by pigeon holing them into a godless court system we have erected, whereby they can have two very unsatisfactory choices: 1) spend years jumping over capricious judicial hurdles or 2) pay off the law degrees.
The tasteless recourse is to pay the law firms, even when there is no real fair claim in play, just to tidy things up. Tell, what is more dangerous to shareholders; a couple percent on buyout offers orchestrated by people you can theoretically fire and overrule, or an environment where any jackass over the bar can hold you up for vast sums of money on a whim?
I am sorry if I’m mistaken, as I don’t follow the legal landscape very closely for reasons best described as “contempt”, but I don’t remember it always being this bad. It was just one or two suits, a few years ago.
Now, a board of directors can barely do anything without having eight class-actions stuffed down their throats.
I’ll take the MBA’s over the Juris Doctor’s, thank you. Someone needs to get this under control.Comments »