W2007 Grace Acquisition I, Inc. (fka WGCBP)

[Madmartigan]

Take a look at the following website for updates on the Grace Pref shareholder lawsuit:

http://www.chimicles.com/w2007-grace-acquisition-i-inc-preferred-shareholder-litigation

Specifically, the Opposition to Motion to Dismiss document that was posted today does a great job of framing the situation here in its entirety. It is very hard to understand how this has not received more front page press given Goldman's involvement - this has elements that make every internal/legal team cringe including breach of fiduciary responsibility and self-dealing - these are crushing allegations that could turn the entire institution on its head when you think about the dishonesty and illegal maneuvers alleged. This further strengthens the logic that they will use this refinance as an opportunity to likely clean-up the preferreds and probably settle the lawsuit. No astute world-class financial institution would risk this level of reputational damage to grand-stand for what they purportedly believe to be their legal rights in this day in age. For such a small sum of money in the grand scheme of things, no less.