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The reply tells me one thing. They are looking for 50 shareholders.
The camaro post tells me that they are suing the bnym for breach of fiduciary duty based on the failure of the bnym to require LBHI to file the subordinate guarantee certificates.
My phone call tells me that requiring LBHI to file the subordinated guarantee certificates are what a prudent trustee should do even in bk as it is still required by Bankruptcy Code 510(a).
That is my research. I am one of the 50 shareholders. I wonder how many do they have so far? I will roll with them. At least the reply is from someone the CT world should know.
My question is if they spoke to the trustee and tried to work things out or is this a out of nowhere class action lawsuit? Did these people talk to the trustee about requiring LBHI to file the certificates?
I am not sure if this class action can potentially lead to other breach of fiduciary duty liabilities with the other trusts as you let the cat out of the bag, it can snowball for the bnym.
I guess you answer will vary depending on who you ask. Is there a specific path to get to the money? Or do you just wait like we all did in Fannie?
I also took a beating on my Fannie jps and commons. What worries me is the ruling came from the SCOTUS.
I received an email reply when I sent in my share count. The reply clearly states their intentions. I replied to ask if I can post the email on the board. I think its okay as the person is well known. But, its common courtesy to ask first.
You guys do know there is an email address right? No worries, I already sent an email seeking clarity.
I think that was done and its waiting on a summary judgement in favor of Wossilek.
I am not the guy to debate this with. I can only share what my views are.
But, I will share what I think might be the case for the breach. Maybe, the failure to file the guarantee claim? Or just recently with ECAPs and LBIE getting paid that they should have done something more knowing it will get the trust money?
Maybe, they failed their fiduciary duty by knowing the Neuberger transaction happened and still agreed on classing the CTs in 10B? All those alternatives, resulted in losses for us. This is a class action on the breach of fiduciary duty. Its now about what the bnym did or did not do and how that effected the shareholders.
I do not think the dividends were included on our 10B claim.
The certificates could have prevented the errors? The certificates could maybe yield higher or actual payouts or maybe place CTs to a higher class or maybe even redemption with all the parity rights that were violated starting from day 1 with Neuberger Berman?
I am not the attorneys here. I would assume the attorneys looked over the case. This will be interesting.
Here comes the lawyers. I wonder which law firm? Cost?
The Plan Administrator said in BK court in their objection to Wossilek that if LBHI were to be forced to file the certificates, it will hurt the senior creditors. What does that tell us?
How will that play into a class action lawsuit to get the certificates filed? That imo tells me that the BNYM failed somewhere. Right?
I am not a lawyer or a judge. I am a man of reason. I guess we will see what a class action lawsuit look like against BNYM soon enough. Good luck to us all.
The Plan Administrator said in BK court in their objection to Wossilek that if LBHI were to be forced to file the certificates, it will hurt the senior creditors. What does that tell us?
How will that play into a class action lawsuit to get the certificates filed? That imo tells me that the BNYM failed somewhere. Right?
I am not a lawyer or a judge. I am a man of reason. I guess we will see what a class action lawsuit look like against BNYM soon enough. Good luck to us all.
How about our dividends? Isn't that loss close to RV? Does our claim cover dividends?
As long as fnf still trades, there is a chance of a settlement. The sad thing is with Biden's agenda, I don't think it will be during his or any Democrat's administration. We will be here until at least until the next Republican president takes office.
How can lehnq trade below bid? Weird
Thanks.
I 2nd that request with joyce. Mojo, your post is interesting but, I just dont understand it. I am newer here so, I dont go as far back as some of you old timers. Its just a friendly request. My knowledge is limited. Thanks
What is going on with the Motion to Compel and the Summary Judgment? Is Judge Chapman going to rule on the Summary Judgment soon?
The question is who is holding the CT shares?
How about that!? No religion is #3. Lol.
Howabout hinduism or buddism? Atleast one of those gots to be top 3. You have to boot one of yours bud.
What dod you say? Repost. I need some entertainment. Lol
I want to see someone hit that 1.99 ask for lehlq even if its only for like 50 shares. Lol
I believe the Real Estate assets are already sold. Archstone is sold. Right?
Interesting. The question is why? The volume is still low though for both the uptick and short. I think without volume both are meaningless.
There was a 400 billion dollar transfer? Do you have a link? that was like 60% of the assets listed for the bk. ???
You have 5 million in gains? You must be big money. I am up 44k. At one point, I was up 58k. I had to good size cost basis to get to 44k. Your initial investment must be 10 million plus unless you were in bitcoin or the meme stocks. Good for you. I was not in either. I missed the boat.
I agree. 29 billion?
Are we Allowed Claims that are not an eligible claim? Thanks
What is that?
I have my fnf gains also in my Roth. And trust me, the contributions are nothing compared to the gains. I can spend my contributions paying 2 months of bills.
It will be the same with the CTs. Lol
Yes. Its according to an age scale. I said retired because many associcate distributions with retirement. Its still a good deal.
You can re invest that cash. You just cant take it out until you retire.
Roth IRAs are good tools for investing in these risky plays. Its all tax free when you retire. I started my Roth with 3k and now its worth more than anything I could have imagined 7 years ago. The downside is you cant touch the money until you retire. I am ok with that. I think you made the right choice by using your Roth account.
So, are you saying we might stop trading?
Are you referring to the balance sheet going into the bk? At the time, many of the TBTF banks have lots of off balance sheet debt and bad quality mbs/agency notes that disaster was awaiting to happen (financial crisis) I was in wamu. I am still invested in Fannie Mae.
As for Lehman being a scam? They were no different than Goldman, Morgan or JPM. Their BS is no different. Its just the Treasury decided to let Lehman fail to set an example. That was a mistake. Soon after, all the dominos fell. That is history. What is done is done.
Give it a rest. You still dont know what is going on do you? Lol. I am not sure if I should laugh at you or feel sorry for you? Maybe someone here can chime in and give me some advice.
What? Are they changing OTC rules?
Nah, lets scare people. 5 more years. Just kidding. I think realistically 1-2 more years.
They extended the bk for another 5 years. It can be 18 years for some of you folks. Lol.