For a team of lawyers now to get info out of CUU.And those guys used to ridicule us here at SH.As predicted a while ago SH will return as "The place" to be......No pennioes in the plate from me
going rate for senior specialized counsel here in BC varies, but is more often closer to $500 per hour than 300. I would be amazed if any savvy securities lawyer would even start examining a minority shareholder complaint without a retainer of at least $15,000.
The lawyer could provide general advice and answer general questions, of course, for much less. But I guarantee you, every single answer or bit of advice would be qualified with the disclaimer that it might not apply to our Copper Fox situation. So it would have little or no specific value to us.
In order to provide us with some answers or advice specific to our situation, the lawyer would have to have a great deal more information than we are able to provide him, at least at the present time. Two examples:
1. In order to tell us whether the BFS should be disclosed to us, he would have to know that it is completed, what it says and whether disclosure is precluded by a nondisclosure agreement and what are the specific terms of the nondisclosure agreement.
2. In order to tell us whether the company is withholding other information that should be shared with us, the lawyer would have to know what that other information is, how long the company has had the information, what potential impact it might have on the market, why it is being withheld, etc.
Even if our lawyer threatened our company and/or requested the information, it would surely be withheld by the company, pursuant to their own legal advice. If they don't believe they are bound to release it to their shareholders generally, they certainly aren't going to release it to a lawyer for a group of minority shareholders.
If the company doesn't produce it voluntarily, the other option is a lawsuit to compel disclosure.
In the context of a lawsuit (which would take months to commence and years to resolve and would likely cost at least a couple of hundred thousand dollars), the information would eventually be available to us through the discovery process . But that is all after-the-fact. Even if it takes us months more to eventually see the BFS, we would see it many months and perhaps years before a lawsuit concluded. And here is something else, would we really want to get into a fight with management when they have Ernesto's resources behind them?