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THIS IS INDEED GREAT NEWS... 190 LAWYERS AFTER THEIR ASSZZZZZSSS THIS CAN CHANGE THINGS FAST.... LOL....
RHDCQ News:
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against R.H. Donnelley Corporation
Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of all persons or entities who purchased the publicly traded securities of R.H. Donnelley Corporation (“RH Donnelley” or the “Company”) (OTC:RHDCQ.PK) between July 26, 2007 and May 28, 2009, inclusive (the “Class Period”). The class action lawsuit was filed in the United States District Court for the District of Delaware.
The Complaint alleges that the defendants violated federal securities laws by issuing material misrepresentations to the market concerning RH Donnelley's business and financial performance, thereby artificially inflating the price of the Company’s securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased R.H. Donnelley Corporation securities between July 26, 2007 and May 28, 2009, you have certain rights, and have until December 22, 2009, to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at www.howardsmithlaw.com.
No where did ssccq or cemjq ever mention shares would be cancelled, it is only the assumption that in bankruptcy cases that most times the commons will be cancelled. There are times such as this case where the reorganizational plan is filed early that they tell you of cancellation.
To each his own
Soooo,,,,, after reading ssccq, cemjq, idarq, sixfq all mention share would be cancelled, well 2 of these are up 50000% the others just filled. Anyhow all old shares will b gone 1 day and new shares will follow after these company emerge from bq. In the mean time its a good opp to buy low sale high. Bought my ssccq in .035 gl to u what ever u do, ima stay rich and share my picks with everyone who wants to readem' and rh donnelly is A cheapy ilma buy, dont mean no1 else has2
Have you read the reorganizational plan? It states very clearly that all equity will be extinguised that means shares (equity) is cancelled
x-plan in detail please?i wanna know...thx
Ya sure with all equity being extinguisted!!!Are you for real???
Ull b smart to get back in........
Thank you Mr. Bricker and I hope someone is listening...check the I_BOX
Sen. Max Baucus
October 15, 2009
Every day we hear about proposed caps on CEO pay, and new regulations to make sure companies are not rewarded for failure. Nowhere is failure being more greatly rewarded than in the United States bankruptcy system. R.H. Donnelley, one of the largest yellow page companies in America, declared bankruptcy earlier this year. The Company had over $500,000,000 of cash on hand when it declared bankruptcy and has generated positive cash from operations every month since declaring bankruptcy. R.H. Donnelley had no debt coming due in 2009, and received an unqualified opinion, a clean bill of health, from KPMG during its audit. The Company is projected to make hundreds of millions of dollars in cash from operations in 2009 and will have an estimated EBITDA of $1 billion dollars. This information is all publicly available in R.H. Donnelley's SEC and bankruptcy filings.
Why did R.H. Donnelley fail when shareholders were against the bankruptcy? There is one simple reason: The CEO will make more money bankrupting the company than keeping it alive. It takes a year or more for shareholders to elect new board members who in turn elect the CEO. As a result, when the CEO and board of a company feel threatened they may lose their jobs; they can wipe out current equity at any time regardless of the company's financial condition by declaring bankruptcy. David Swanson, R.H. Donnelley's CEO, cut a deal with bondholders to keep his job and have management acquire a 10% stake of the Company when it emerges from bankruptcy. Management had approximately 1% of the shares before bankruptcy. Equity was destroyed before the shareholders could have the CEO or the board members removed. The Company has wiped out six billion dollars of debt through the bankruptcy process and significantly lowered its debt service payments. A conservative valuation puts Management's 10% stake at a couple hundred million dollars. The stake could be worth considerably more if the economy recovers over the next few years. I believe this is a clear breach of management's fiduciary duty to stockholders.
This bankruptcy certainly did not need to happen. The debt markets, which were locked up for the better part of two years, have thawed in the last few months. The company generated over $100 million of cash flow in the latest quarter according to the latest 10-Q and could have used this money to pay down debt. There were dozens of other options besides bankruptcy that would have protected the interest of equity, but none of these other options would catapult David Swanson into the legions of the super rich. The worst part is that the U.S. Bankruptcy Court and the U.S. Trustee allowed this to travesty to occur. The watchdogs are allowing this to happen, and encouraging corporate behavior that is harmful to all Americans.
This is not to say the Company did not have problems. R.H. Donnelley had a lot of debt because of a slew of acquisitions it made over the last decade. David Swanson orchestrated the acquisitions and the board of directors, Barry Williams, Edwina Woodbury, Thayer Bigelow, Robert Kamerschen, Alan Schultz, Michael Connors, Ronald Rittenmeyer, David Veit, Thomas Reddin and Nancy Cooper, approved of the Company's business strategy and acquisition binge. The problems that the Company had were the direct result of inept management. Management should be removed as a consequence of poor decision-making, not rewarded and supported by U.S. bankruptcy courts. The current corporate governance system rewards failure. R.H. Donnelley sold a billion dollars in bonds last year and made only one interest payment before voluntarily defaulting on its debt. One can only wonder what would happen if a homeowner walked away from their mortgage after one payment. Would the homeowner be rewarded in the same manner? The Company's actions not only negatively impacted the equity holders and bond holders, but also Company employees who put in years of sacrifice to make the Company a success and the retirees counting on a pension. Many stockholders were also the Company's employees and retirees. These people were doubly hurt by the bankruptcy. The CEO and board of directors must be removed upon the failure of a company rather than be rewarded with hundreds of millions of dollars. This is what happens when banking institutions are taken over by the FDIC, and it should be what happens when any public company fails. Management must be held accountable for its actions.
There are three major problems with allowing a company that is still able to service its debt and generate positive cash flow to voluntarily enter bankruptcy. The first is the tremendous human cost to all the workers; retirees and investors who had believed their contracts would be honored. The second problem is that allowing solvent companies to declare bankruptcy raises the cost of capital for all companies. If a company that can pay its debt is allowed to enter bankruptcy, then investors will require a higher interest rate due to the increased risk of all companies defaulting. This will make it harder for companies to undertake new projects and reduce corporate profits. Fewer projects will be profitable for companies, and hiring will suffer as a result. It will mean fewer jobs in America. Finally, it will create a major incentive for other companies to follow suit. If one major company is allowed to file bankruptcy, that company has a tremendous cost advantage over its competitors. The company can under-price the competition and win new business. The companies that declared bankruptcy will be able to earn more money than competitors. Companies unencumbered by debt and legacy costs will use these earnings to expand. This will force other companies in the industry to declare bankruptcy to compete. This will harm all stakeholders and further reduce the returns for investors like pension funds, endowments, insurance companies, banks and individuals. It will again cause the cost of capital to rise further for all companies, and further reduce employment.
Congress needs to address corporate governance immediately to make sure the failures of the last few years are not repeated. Bankrupting a company should be a last resort for a company, not a winning Powerball ticket for the CEO. The current system is not only encouraging risky behavior; it is actually encouraging corporations to default on their debt. The human cost is too high to allow this to continue. We must act now to make sure failure is no longer rewarded in bankruptcy.
Sincerely,
Thomas Ryan
CEO Doddsville Investments
Largest Shareholder of R. H. Donnelley
South Miami , FL
I got out yesterday with my 50% gain.
You need to read this
Letters To Leaders
All messages are published with permission of the sender. The general topic of this message is Courts/Judiciary:
Subject:
RH Donnelley
To:
Sen. Max Baucus
October 15, 2009
Every day we hear about proposed caps on CEO pay, and new regulations to make sure companies are not rewarded for failure. Nowhere is failure being more greatly rewarded than in the United States bankruptcy system. R.H. Donnelley, one of the largest yellow page companies in America, declared bankruptcy earlier this year. The Company had over $500,000,000 of cash on hand when it declared bankruptcy and has generated positive cash from operations every month since declaring bankruptcy. R.H. Donnelley had no debt coming due in 2009, and received an unqualified opinion, a clean bill of health, from KPMG during its audit. The Company is projected to make hundreds of millions of dollars in cash from operations in 2009 and will have an estimated EBITDA of $1 billion dollars. This information is all publicly available in R.H. Donnelley's SEC and bankruptcy filings.
Why did R.H. Donnelley fail when shareholders were against the bankruptcy? There is one simple reason: The CEO will make more money bankrupting the company than keeping it alive. It takes a year or more for shareholders to elect new board members who in turn elect the CEO. As a result, when the CEO and board of a company feel threatened they may lose their jobs; they can wipe out current equity at any time regardless of the company's financial condition by declaring bankruptcy. David Swanson, R.H. Donnelley's CEO, cut a deal with bondholders to keep his job and have management acquire a 10% stake of the Company when it emerges from bankruptcy. Management had approximately 1% of the shares before bankruptcy. Equity was destroyed before the shareholders could have the CEO or the board members removed. The Company has wiped out six billion dollars of debt through the bankruptcy process and significantly lowered its debt service payments. A conservative valuation puts Management's 10% stake at a couple hundred million dollars. The stake could be worth considerably more if the economy recovers over the next few years. I believe this is a clear breach of management's fiduciary duty to stockholders.
This bankruptcy certainly did not need to happen. The debt markets, which were locked up for the better part of two years, have thawed in the last few months. The company generated over $100 million of cash flow in the latest quarter according to the latest 10-Q and could have used this money to pay down debt. There were dozens of other options besides bankruptcy that would have protected the interest of equity, but none of these other options would catapult David Swanson into the legions of the super rich. The worst part is that the U.S. Bankruptcy Court and the U.S. Trustee allowed this to travesty to occur. The watchdogs are allowing this to happen, and encouraging corporate behavior that is harmful to all Americans.
This is not to say the Company did not have problems. R.H. Donnelley had a lot of debt because of a slew of acquisitions it made over the last decade. David Swanson orchestrated the acquisitions and the board of directors, Barry Williams, Edwina Woodbury, Thayer Bigelow, Robert Kamerschen, Alan Schultz, Michael Connors, Ronald Rittenmeyer, David Veit, Thomas Reddin and Nancy Cooper, approved of the Company's business strategy and acquisition binge. The problems that the Company had were the direct result of inept management. Management should be removed as a consequence of poor decision-making, not rewarded and supported by U.S. bankruptcy courts. The current corporate governance system rewards failure. R.H. Donnelley sold a billion dollars in bonds last year and made only one interest payment before voluntarily defaulting on its debt. One can only wonder what would happen if a homeowner walked away from their mortgage after one payment. Would the homeowner be rewarded in the same manner? The Company's actions not only negatively impacted the equity holders and bond holders, but also Company employees who put in years of sacrifice to make the Company a success and the retirees counting on a pension. Many stockholders were also the Company's employees and retirees. These people were doubly hurt by the bankruptcy. The CEO and board of directors must be removed upon the failure of a company rather than be rewarded with hundreds of millions of dollars. This is what happens when banking institutions are taken over by the FDIC, and it should be what happens when any public company fails. Management must be held accountable for its actions.
There are three major problems with allowing a company that is still able to service its debt and generate positive cash flow to voluntarily enter bankruptcy. The first is the tremendous human cost to all the workers; retirees and investors who had believed their contracts would be honored. The second problem is that allowing solvent companies to declare bankruptcy raises the cost of capital for all companies. If a company that can pay its debt is allowed to enter bankruptcy, then investors will require a higher interest rate due to the increased risk of all companies defaulting. This will make it harder for companies to undertake new projects and reduce corporate profits. Fewer projects will be profitable for companies, and hiring will suffer as a result. It will mean fewer jobs in America. Finally, it will create a major incentive for other companies to follow suit. If one major company is allowed to file bankruptcy, that company has a tremendous cost advantage over its competitors. The company can under-price the competition and win new business. The companies that declared bankruptcy will be able to earn more money than competitors. Companies unencumbered by debt and legacy costs will use these earnings to expand. This will force other companies in the industry to declare bankruptcy to compete. This will harm all stakeholders and further reduce the returns for investors like pension funds, endowments, insurance companies, banks and individuals. It will again cause the cost of capital to rise further for all companies, and further reduce employment.
Congress needs to address corporate governance immediately to make sure the failures of the last few years are not repeated. Bankrupting a company should be a last resort for a company, not a winning Powerball ticket for the CEO. The current system is not only encouraging risky behavior; it is actually encouraging corporations to default on their debt. The human cost is too high to allow this to continue. We must act now to make sure failure is no longer rewarded in bankruptcy.
Sincerely,
Thomas Ryan
CEO Doddsville Investments
Largest Shareholder of R. H. Donnelley
South Miami , FL
These thieves are asking
No your not I'm just busy counting my profits.. A nice run to .16 cents by friday of next week should be in line...
The chart is looking very nice! It's going to break out soon!
This thing should be very much higher, they do have money, no debtor in possesion financing, and shares are held very tight. I was just looking back to my first order on this for 20000 shares it took 7 partial to fill and on any subsequent orders since they have all filled in partials. So I am saying there are not many available, it should go fast and I also think commons will survive on exit. IMO
Paidmyway
No you are not. I have been here since they filed. Just waiting for them to fire crooked CEO
Up move is underway.... Look at the buys to sells... WEEEEEEE !!!! Remember this was about 78 dollars a shares not long ago..... And insider still hold big positions... They can't foool us...http://www.profitspi.com/stock-quote/rhdc.aspx
Quick question: when will the shares canceled by the very sick CEO?
It looks like it may have found it's bottom. I'm watching this one closely
Still in and added about 200,000 shares at .03 .... We soon will find out if I'm wrong.. Thanks for the concern you have been right so far... I will hand it to you hope you made money on the short side.... http://www.profitspi.com/stock-quote/rhdc.aspx
GOOD QUESTION WHY NO Q !!!! 99 trades on Friday and the volume is gang busters.... over 2.5 million check this out... http://www.profitspi.com/stock-quote/rhdc.aspx
I added about 200,000 shares this week... I think the .03 cent area is a steal.. Should be good for one strong rally... I can't believe the courts would let a cash cow like RHD snake away with shareholder dollars in such a fashion.. But, that's my take on it.. http://www.americanbulls.com/StockPage.asp?CompanyTicker=RHDC&MarketTicker=OTC&TYP=S
Still holding this one and they continue to fool me... I have lighten up but still think we should have a pay day. http://www.level2stockquotes.com/level-ii-quotes.html
5000 is what I see
Ford, I don't have L2 anymore. Can you tell me how big that bid is on .456. Been loading there for days?
I don't think there is any life left in this one. Probably well overdone burnt toast.
Where is the Q ???? How come this one has no Q ? Has the Judge not approved the B/K yet??
Did you guys see the 300,000 block bought at the ask about an hour ago? And 100,000 just before that.
That's $19,500 and $6,400 invested in one shot!
Maybe something good is about to be announced?
The RHDC train is getting ready to leave. :)
With Zecco Trading you can buy online. No hassles.
iggy for you smart guy.
FORDGT - ya good buy at .15 man look at you go..next stop ZERO I told you i have been watching this stock for months daily and .15-.18 not a good buy..but nope i guess you know it all. Hope you lose all your momey
hopefully they will release it pretty soon.
Get ready for a move up.... You must contact a broker to buy again... But you can still sell on line without a broker ....hmmmmmm lol... My last buy at .042 had to call a broker at scottrade.... http://www.secform4.com/insider-trading/30419.htm
the chart is sure looking like it is ready.
I'm not sure what they meant, or more like where trying to convey moores.
That didn't say anything even nominally discernible.
It's like, OK, they filed last Friday.
The stock took a dump.
That doesn't affect the debt they report to a judge!
Sounds like the writer of that article is a dupe for somebody that wants to see the shares come down some more. GL m.
GLTA !!
from a marketwatch artical june 3rd
R.H. Donnelley's /quotes/comstock/11i!rhdc (RHDC 0.05, -0.01, -14.52%) debt is even further in the dumps after the country's third largest print and online Yellow Pages publisher, filed for bankruptcy last Friday after years of growth through leveraged buyouts. See previous story on Donnelley filing.
R.H. Donnelley's 8.875% bonds due in January 2016 are at a mere 6 cents on the dollar
does not look good for the commons.
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08/05/09 http://biz.yahoo.com/e/090804/rhdc.pk10-q.html
R.H. Donnelley Wins Approval of 'First Day' Motions in Chapter 11 Restructuring | |||
05/29/2009 | 4:22PM | EDGAR (8-K) | - Current report filing |
05/29/2009 | 10:51AM | EDGAR (8-K) | - Current report filing |
About R.H. Donnelley
R.H. Donnelley Corporation (OTC: RHDC - News) is one of the nation's leading consumer and business-to-business local commercial search companies. The company delivers relevant search results for consumers and leads to small- and medium-sized businesses through its Dex-branded print yellow and white pages directories, Internet yellow pages
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