|Catch us if you can...|
The following passage from Meridian's recent 13D amendment should worry Cyanotech shareholders, and anyone else concerned about fairness and integrity in our public securities markets:
"Davis went from 50% support in 2015, prior to Meridian’s first Schedule 13D filing, down to 47.7% in 2016 following the beginning of such filings, and then up to 50.2% in 2017. Each year, while the company’s performance and stock price was declining, the number of shareholder votes cast in support of Davis increased.
This seemed extremely odd to Meridian until it was remembered that Davis has a history of both (x) providing funds to his friends to be used to acquire and hold Cyanotech shares and (y) failing to report such activity as is required by Federal securities laws. Could Davis obtaining just barely enough shareholder voting support (50.2%) to ensure he cannot be voted off the board be just an amazing statistical coincidence?"
Meridian SEC 13D/A 2/14/2018
Click on the image below to read the full blog-post:
|Is there a connection between MAD and Easy-E?|