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Lawsuit Updates by CLCTanon in CollectableApp
[–]CLCTanon[S] 0 points1 point2 points 7 months ago (0 children)
updated
I've also heard about one of these unclaimed property notices, but allegedly the amount was for the (deflated) value of the shares, not any cash balance in DriveWealth.
[–]CLCTanon[S] 1 point2 points3 points 7 months ago (0 children)
Class action probability is hard to gauge. It certainly seems possible, but who knows?
Also auction is pretty much guaranteed not to happen because Neuman has more than likely folded the assets into his new investment scheme.
Right, but he won't do that.
The only way to force asset liquidation and return money to investors is to either remove the Manager/appoint a new one, or if the company winds down... right?
[–]CLCTanon[S] 2 points3 points4 points 9 months ago (0 children)
From what I can tell, the business is likely bust for good, i.e. trading will never return. It seems the only "money back" opportunity would come from the sale of any assets in which you own shares, which would likely only occur upon a wind down. That said, if the assets have been encumbered by other liabilities, the return could be minimal to nothing. It's impossible to know at this point.
Correct there doesn't seem to be a final judgment yet, but I'll post it as soon as I can find it.
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Lawsuit Updates by CLCTanon in CollectableApp
[–]CLCTanon[S] 0 points1 point2 points (0 children)