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American Business Financial Services Inc (fka ABFIQ)

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Last Post: 6/12/2012 9:33:31 AM - Followers: 4 - Board type: Free - Posts Today: 0

ABFIQ- American Business Financial Services, Inc.

3.6M O/S

[chart]profitspi.com/stock-chart-str.aspx?id=ABFIQ&ca=1358157627[/chart]



 

$33M SETTLEMENT APPROVED -- 50% GOES TO TRUSTEE IN FAVOR OF BANKRUPTCY ESTATE, ABFIQ NO LONGER A DEFENDANT


American Business Financial Services, Inc. : Notes and Debentures

Summary: On November 3, 2008, the Settlement Hearing was held and Judge O’Neill approved the settlement. On November 21, 2008, the Court entered the Memorandum and Order dismissing the Amended Complaint with prejudice. The plaintiffs’ counsel is awarded 25% of the settlement in fees and $267,946.73 in reimbursement of expenses. On December 8, 2008, an opposition to the settlement was filed, motioning for the replacement of the class counsel based on fraud and misrepresentation. On December 22, 2008, a notice of appeal was filed. On January 7, 2009, the opposition was denied.

NOTE: American Business Financial Services, Inc. is no longer a defendant because it and a number of its subsidiaries filed for protection under Chapter 11 of the Bankruptcy Code on January 21, 2005, and this lawsuit automatically stayed as of ABFI.

http://securities.stanford.edu/1034/ABFI05_01/
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COMBINED SETTLEMENT PROCEEDS

The Trustee D & O Settlement and the Noteholder Class Action Settlement will result in combined payments in excess of $33,000,000.00, to be shared equally between the Trustee (on behalf of the ABFS bankruptcy estate) and the Noteholder Plaintiff Class.

http://www.abfsonline.com/20080915_abfs_status_20.html

 

PostSubject
#62   ABFIQ revoked: Renee 06/12/12 09:33:31 AM
#61   ABFIQ SEC Suspension: Renee 05/03/12 10:15:29 AM
#60   ABFIQ @ .03! Estrella 06/15/11 09:47:11 AM
#59   ABFIQ @ .025! Estrella 05/03/11 11:31:32 AM
#58   ABFIQ @ .05! Estrella 03/28/11 01:49:36 PM
#57   ABFIQ @ .03! Estrella 03/28/11 01:48:45 PM
#56   ABFIQ @ .028! Estrella 03/28/11 01:48:05 PM
#55   hey touc watch it close bid getting strong hmmmm! startingboy 02/18/11 12:26:13 PM
#54   ABFIQ @ .08! Estrella 10/26/10 09:54:57 AM
#53   good to have you on board! Horns in ATX 09/16/10 03:44:46 PM
#52   Abfiq just getting started Horns in ATX 09/16/10 01:35:46 PM
#51   Sup Toucan, that 5k showing red was my buy jtayz 09/16/10 01:07:04 PM
#50   Smack that ASK peeps TOUCAN 09/16/10 11:41:57 AM
#49   http://www.abfsonline.com/20100115_abfs_status_27.html TOUCAN 09/16/10 11:24:49 AM
#48   ABFIQ - .0351 x .05 TOUCAN 09/16/10 11:19:53 AM
#47   Trial could be as early as the fall:) TOUCAN 09/16/10 11:16:40 AM
#46   bid stacking 2x1 TOUCAN 09/16/10 11:12:29 AM
#45   ABFIQ @ .05! Estrella 09/16/10 11:02:57 AM
#44   40K @ .03 TOUCAN 09/16/10 10:57:36 AM
#43   no .02's smack that ask TOUCAN 09/16/10 10:35:05 AM
#42   I agree, just needs more attention here. TOUCAN 09/16/10 09:45:43 AM
#41   .03 is cheap, this can run to .25 Horns in ATX 09/16/10 09:45:08 AM
#40   2x2 TOUCAN 09/16/10 09:38:03 AM
#39   take them .03's out TOUCAN 09/15/10 03:01:49 PM
#38   ABFIQ - 10yr chart: TOUCAN 09/15/10 02:49:56 PM
#37   ABFIQ Level 2 paper thin! Chart: Estrella 09/15/10 02:37:33 PM
#36   ABFIQ looking great, going higher imo Horns in ATX 09/15/10 02:33:26 PM
#35   ABFIQ @ .03! Estrella 09/15/10 02:29:41 PM
#34   Company cannot selling into the open market during TOUCAN 09/15/10 02:13:58 PM
#33   cannot increase O/S? Horns in ATX 09/15/10 02:11:46 PM
#32   Only 3.6M O/S & Co cannot during a TOUCAN 09/15/10 02:07:24 PM
#31   .018 x .03, this moves on thin air TOUCAN 09/15/10 01:43:23 PM
#29   ABFIQ @ .015! Estrella 09/14/10 11:22:19 AM
#28   News? Distribution of ABFS settlement is in AKAPAK 12/01/09 04:51:54 PM
#27   I think that huge spread between the bid faust357 10/12/09 12:31:01 PM
#26   nothing but the updates are posted here http://www.abfsonline.com/ lifegear 10/12/09 12:08:42 PM
#25   Do you have a recent MOR or any kuwlness 10/12/09 11:58:39 AM
#24   apparently not interesting enough to attract attention lifegear 10/12/09 11:57:23 AM
#23   interesting, gear. op9171787 10/12/09 11:55:05 AM
#21   3.6m o/s with $100M settlement so far lifegear 10/09/09 04:04:07 PM
#20   Yeah, was wondering that myself. Seems worth kuwlness 10/09/09 03:41:28 PM
#19   that's what I'm hoping for, it could be lifegear 10/09/09 03:40:55 PM
#18   You think these shares are gonna be worth anything? kuwlness 10/09/09 03:09:47 PM
#17   NEWS http://philadelphia.bizjournals.com/philadelphia/stories/2009/10/05/daily33 lifegear 10/08/09 04:45:44 PM
#16   per shortsqueeze.com there are 75,000 shorted shares lifegear 04/15/09 01:33:35 PM
#15   June 2, 2009 - Pleadings to have aspects lifegear 04/13/09 09:44:59 PM
#14   Yoh what happened to this one? No trading? Arnold25764 02/27/09 11:46:17 PM
#13   "1/9/06 - Trustee reported that secured lenders do lifegear 01/18/09 03:16:25 PM
#12   Holding 1000% gain and up another 36% seems Starnes 01/15/09 06:47:28 PM
#11   I hope so, they had big business before lifegear 01/15/09 06:45:07 PM
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