Empire Builders · EB-022
She was on the board the night they voted. The offer was $2 per share. Twelve months earlier, it traded at $170.
On March 16, 2008, Ironwood Securities' board voted to sell the company for just $2 per share after trading as high as $170 a year prior. Under immense pressure, they made a choice that cost 14,000 employees their jobs and wiped out shareholders entirely.
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