Thread regarding CGG Veritas layoffs

We should sue these guys

I heared we wasted $5 million on this in legal, banker and accountancy fees.

https://www.thelayoff.com/neos-geosolutions

by | Post ID: @RUmbbXQ
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6 replies (most recent on top)

Maybe we could buy em and pick up the pieces! Surely they must be worth the $5 million they swindled us for?

by | Post ID: @RUmbbXQ-Gjct

No sense bothering now. Their board says the ceo resigned and the company is being wound down

by | Post ID: @RUmbbXQ-Fxlz

i think hes not talking about the cgg bankruptcy advisors but some company called neos. hard to tell if their even still in business from their web site but they had an offer out to buy the multiphysics airborne business of cgg. the neos board suggests they screwed around for over a year trying to raise the cash but never did but i think cgg had to keep paying its disposition adviors the entire time only to be stuck with the businss in the end

by | Post ID: @RUmbbXQ-fex

Although there is fat chance if it, maybe you should sue the people who got the company into this mess in the first place? The accountants / lawyers are only doing a job for the going rate. I guess they kept the company going for now.

by | Post ID: @RUmbbXQ-set

i believe it was a lot more than that - see legal documents from the chapter 11 website https://cases.primeclerk.com/cgg/

by | Post ID: @RUmbbXQ-ddo

As CGG succeeded in avoiding bankruptcy the board will consider it money well spent.

by | Post ID: @RUmbbXQ-ioa

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