Majesco Shares Being Purchased
Shareholder Group Trying to Acquire 2 Million Shares
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Troubled publisher Majesco has a number on its head. A shareholders group including Trinad Capital Master Fund Ltd. made an offer to buy 2 million shares of the company at $1.50 a piece. The group already owns 12.4 percent of the firm and intends to appoint three people for election to Majesco's board.
The group has also asked that Jessie and Joey Sutton, the sons of Majesco Chief Executive Morris Sutton, resign or be removed from the company. The shareholder group also intends to file a lawsuit against the company and former directors and officers due to mismanagement and a range of other issues.
Source: Yahoo News/Associated Press
The group has also asked that Jessie and Joey Sutton, the sons of Majesco Chief Executive Morris Sutton, resign or be removed from the company. The shareholder group also intends to file a lawsuit against the company and former directors and officers due to mismanagement and a range of other issues.
Source: Yahoo News/Associated Press