Quote from: sporket on April 12, 2014, 10:34:23 PM

Quote from: arij on April 12, 2014, 09:28:59 PM

...
This does not change anything for us. It was his duty and obligation to share the proceeds with his investors.
Once again, he failed to do so. If you look back you will see many instances where his original contract was in fact breached by him.
[stuff rg did wrong]

I'm not arguing that rg didn't fail in his obligations to his shareholders. He did.
What you are failing to acknowledge is he had no right to sell you BitVPS, BitVPS was co-owned by the shareholders. It simply was not his to sell unless he did a full buyback, which was not the case. As I pointed out above,

Quote

The Terms of the IPO.

(a) The Directors have elected to divide BitVPS into 1`000`000 (one million) equal non-voting shares with a total equity value of 1`200 BTC (0.0012 BTC each). ...

These shares explicitly represent BitVPS, not "profits of BitVPS" as your colleague suggested. To acquire BitVPS you had to acquire those shares. As I understand it, you did not.

*I'm not accusing you of any intentional wrongdoing. If you didn't realize that rg defrauded his investors, he also defrauded you by selling you something he had no right to sell. If, OTOH, you went into this deal knowing that shareholders were defrauded, you are complicit in rg's wrongdoing.

RG was well within his rights to sell BitVPS. As non-voting shares, these shares have no rights to any decisions which are made within the company. These rights were reserved explicitly for the managers or directors of the company, in this case RG. RG was the only member who had the right to make the final decision regardless what any of his shareholders wanted.

Every shareholder here invested into the companies profitability at the expense of any and all voting rights. This is a profit share of BitVPS and nothing else.