There is no question that many companies treat shareholders as second class citizens and this comes from first hand experience!!! I have dedicated my entire career to solely prosecuting securities fraud actions on behalf of individuals and pension and retirement funds who have lost hundreds of thousands of dollars because corporations have misrepresented their financial results, manipulated their accounting statements, or lied about their business, finances or future prospects. More egregiously, while the corporate directors have lied to their shareholders, its no coincidence that they have sold off millions of dollars of their own shares in the Company while making these false and misleading statements to its shareholders and inflating the Company's stock price. It is not until a corporate executive is put under oath and presented with internal corporate documents contradicting the positive statements that the Company publicly issued to investors, that the corporate executive begins to tell the truth. I warn all investors to take an executives' positive spin with a grain of salt, and do your homework on the Company's financial statements, because usually numbers don't lie, that is unless the Company has not "cooked the books" as we discovered with Cendant, Sunbeam, and Informix. I wish I viewed the future of shareholder rights optimistically, but with the increasing pressure to report phenomenal results, many corporations are more concerned with driving up the share price by manipulating the company's finanical results and lining their own coffers rather then disclosing the truth of the corporation's true state to the investors.
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