Global Cord Blood wins injunction against Blue Ocean Structure Investment
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- A Cayman Islands court has issued an injunction on behalf of Global Cord Blood (NYSE:CO) that prevents any resolutions from an extraordinary general meeting from taking effect and Blue Ocean Structure Investment Company Ltd. from convening a meeting of the company.
- The court will hold a hearing on July 13-15 to discuss the order and related matters.
- Institutional shareholder Blue Ocean holds ~65% of Global Cord Blood (CO) shares and has been trying to prevent the company's acquisition of the biotech Cellenkos.
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Comments (18)
Latest bad news, 01 December 2022: Global Cord Blood Corporation (CO) - FORM 6-K | Report of Foreign Issuer seekingalpha.com/...
Does anyone have any idea what happened or what is going to happen with CO stock? My position is zeroed in my brokerage account.
@Ronz8in From what I gather, no one has any clue. This company was never responsive to investors and being Chinese who the heck knows what is real. I've seen lots of frauds there and sometimes the fraudsters get a pat on the back for ripping off US investors. What I do know is the board never cared about the shareholders. Now we wait for the JPL to figure out if the assets were ever truly in the hands of the shareholders.
@Patrick Irish there are no assets. complete fraud
Got into bed with crooks, crooks win
@Patrick Irish
Do you know, Small investors who invested in CO lost their entire investment?
Do you know, Small investors who invested in CO lost their entire investment?
@Umeshp How so? The stock is halted. I haven't heard an update since the halt. The shorts maybe in more danger if the stock is in limbo for years.
@Umeshp I see one news articles about a chapter 15. Do you know what is going on here?