Momenta Pharmaceuticals, Inc. (MNTA)

[y3maxx]

Why should anyone trust the S C?...

"GM was another example. Those who held GM credit were unlawfully dispossessed of their right to recover in bankruptcy what was theirs because payouts were made to others who held inferior positions in the capital structure (primarily the UAW via their benefit programs.) Those who were disadvantaged sued and lost.

Then there were those who bought various structured products that were designed so that in order to look at the documentation necessary to make a claim for fraud you needed a supermajority that included the super-senior tranche holders. You could never get there, since those people were kept whole even if everyone else lost 100% of their money and, what's worse, since investigations and document production cost money to perform and that must come from the trust beneficiaries the super-senior holders not only had no incentive to cooperate they had an active incentive to obstruct any such attempt so long as their position was paid out.

This little clever bit of design made it effectively impossible for any holder of these "products" to sue for fraud on the premise that the underlying loan quality was intentionally misrepresented because they could not gain the documentation necessary to file a suit and actually win, as you can't sue on speculation, you must sue on facts. That in turn has led to those suits being thrown out."

http://market-ticker.org/akcs-www?post=229506