I recently lost some money in the Anthracite Capital fiasco, that company run by BlackRock that recently went belly-up. I've been trying to get the other shareholders together so we can hire a lawyer and get some sort of legal defense.
We're not actually necessarily looking to sue, it all depends on whether we have grounds. But we would like someone to represent us through the bankruptcy filings, and we would like to know what our legal options are. The problem is I don't really know how to go about finding shareholders.
The most I've been able to do is contact a few people I know who also own shares, and some of them aren't that interested in this, and the lawyers we have contacted so far haven't been interested in taking our case.
So I'm just wondering, how is this usually done? I thought it was standard practice that when a company goes bankrupt, shareholders usually get a lawyer to represent them, and if there's any evidence of fraud or anything like that, the lawyer can advise them on their options. I find it a bit odd that this hasn't happened here, and that shareholders are basically not doing anything. Can anyone help me out with some advice/explanation about this?
We're not actually necessarily looking to sue, it all depends on whether we have grounds. But we would like someone to represent us through the bankruptcy filings, and we would like to know what our legal options are. The problem is I don't really know how to go about finding shareholders.
The most I've been able to do is contact a few people I know who also own shares, and some of them aren't that interested in this, and the lawyers we have contacted so far haven't been interested in taking our case.
So I'm just wondering, how is this usually done? I thought it was standard practice that when a company goes bankrupt, shareholders usually get a lawyer to represent them, and if there's any evidence of fraud or anything like that, the lawyer can advise them on their options. I find it a bit odd that this hasn't happened here, and that shareholders are basically not doing anything. Can anyone help me out with some advice/explanation about this?