Thursday, December 11, 2008

Shareholders sue Crystallex

So shareholders of Crystallex have launched a class action law suit against the company claiming fraud. As has become common practice lately when a company gets screwed, the shareholders think they were entitled to certainty and security and want some of their lost money back. Sorry, but you invested in an extremely volatile sector (junior mining) in an extremely risky part of the world (Venezuela). You knew your investment was a big risk, if you didn't know and believed every word the company said well I'm afraid you've just been taught a big lesson in due diligence.

Yes, you were robbed, Venezuela played you and Crystallex for chumps, good luck in your other investments. I hope this case gets thrown out of court though, Crystallex will be busy enough fighting (and failing) to win their claims to Las Cristinas in courts. They don't need this side drama.

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