Ouch.

Redflex shares closed at $2.61 on Monday, after trading was halted.

Chris Cooper and his sphere of investors rejected an offer for $2.75/share by Macquarie/Carlyle.

Redflex opens trading on Tuesday in Australia at…. $1.66 and closes at $1.84, down 30%, but this somehow means that the company will be worth more than $3.00/share to another bidder, according to Cooper.

No wonder they think shortening yellow light times increases safety.

The Wall Street Journal can’t figure it out either. <story here>

More fun numbers:

Redflex, as a company lost $100 Million in one trading day.

Cooper and his family’s shareholdings took a $10 Million dollar haircut.

by CameraFRAUD