Originally Posted by
mikeybycrikey
After taking out the value of the Tenon shareholding (59.8% of $175m) from the market cap of Rubicon ($102m), we're left with -$2 million. That's not good sign for the ArborGen investment.
Although, getting to the stage where this court case was lost just appears incompetent. Assuming that management were actually cheating their employees out of their shareholding, what were they thinking? Was there no chance of settling the case at an earlier stage for much less money? And does an appeal have any chance of success, or is it just more money down the drain?
This judgement seems to wipe out the whole value of the company. Hopefully some incompent oaf has at least lost their job over this.