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Old 01-07-2011 | 10:18 PM
  #1405  
Releasemaster
Go Knights Go
 
Joined: Apr 2008
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From: OCC/Dispatch
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This past week there was an objection to the amended POR. Basically it challenges the legality that all holders of 5% or more of the new common stock will have to sign an agreement allowing the new board to vote their shares. Basically major shareholders will not have a say outside what JO and the board want.

This is a power play by JO to keep complete control and it looks like he's been called on it in federal court.
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