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I'm not gonna say much more till we see where this goes. If he's doing what I think then I dont want to give it away before judge responds
Its orchestrated look at docket 1169. This was intentional. There is a plan
No doubt Okin came up with the idea
Dont know about that... but I'll put some back in. Still a wash at this point.
Red.... Ferring... lol but not from JCP.
Docket 1169 is what you really need to look at. Bloody brilliant.... I think I know what they are trying to do and that would be interesting.... power by numbers....
Holy smokes.... interesting indeed.
I want to answer. Look at this price manipulation. That article was planted to drive the price up. Someone sold their shares and paid for that pump. I happened to luckily sell gaining a profit. Then, next day Sussberg addresses that article yet sidesteps all the other questions in the past with the judge? Says almost none of it was true? How many other rumors has he addressed? Makes me think there is more to it than what he wants to admit. Then look what happened. The price was manipulated back lower than what I sold at. Again?!Who has the shares to keep doing this and money? Oh yeah... over 20... that right 20 investors signed NDA's. It is very much possible this is being manipulated on purpose.
Right. To mediate. I dont get why some people think he's going to step in and save them. He literally doesnt care about any investors. He cares about making sure everything is done legal regardless of the outcome the company decides to make. And if people are looking for the company to save them, then I dont see that happening based off of what they have done so far. If anything they are probably making deals with the investment firms and going to issue a different class of shares for the big firms and leave individual/small investors behind imo.
Oh, you're right I'm thinking of 2 different things. The plan was supposed to be submitted 7/14
Sussberg said 7/14 a deal would be done. Now its mid August.... a month later. So definitely not moving quickly. But I think more importantly is whether or not it is in the best interest of common shareholders. If so then it's worth it. If not then that will be more money spent the longer this goes on.
Good question. Perhaps Sussberg is hiding something else and doesnt want us to find out about it until he decides to drop the bomb. So far nothing Sussbeeg said is true. Just manipulative lies far as I can tell.
I think the correct wording in the beginning was that the shares were deemed "worthless". The idea they will be cancelled is based on other bks. Since the original filing there have been several changes that some hope will save commons instead of them being left worthless. Unfortunately there has yet to be any proof that there will be enough equity for commons to get any kind of compensation. What we do know is if JCP is liquidated commons definitely will not get anything. So that's what we dont want to happen.
Let's hope they break them at some point cause more and more companies are pulling this garbage at the expense of investors. It's ridiculous. Then blaming it on Covid. Smh...
Omg. Listen to the call on the EC. He literally said he was allowing it so that they can explain what is going on. That way we could understand what was happening. That we would get mad but at least we would understand why we are mad. It was basically formed to soften the blows that the judge knew was coming. As you can see that is all they are doing. Softening the blows we are being hit with. Telling us they see no recovery for shareholders and why. This EC was created to try to ease the pain not help us triumph over it.
They haven't hid anything from the get go. People been writing letters to the judge from day one telling him they had the money, they had a plan before covid, they have more in assets than they claim. He doesn't care. The fact is they filed for BK. They are protected by BK. They paid bonuses that should not have been allowed and now they will probably pay even more bonuses. I mean the list goes on and on about how crooked this is but as long as they do everything legally and cover up everything legally theres nothing anyone can do. The judge is only looking at whether or not they are doing things by the law. He doesn't care about right or wrong. Which is why we have the EC committee. To explain to us what is happening. So we can be mad about it but at least we understand why we are mad.
Shareholders fighting for equity is not the problem. The problem is JCP fighting to eliminate equity for shareholders. Unless you can beat them somehow, they will win..
No I was a long time investor. Now I'm just watching to see what happens. I would buy back in if there was a reason to but theres not so far. So, waiting to see what this crooked Scamming Sussberg does now. This whole BK was a scam. All the lies following it have just been part of the scam. One lie after another from this guy. Anyways, just keeping it real. I hope those still holding are able to get something out of this scam but no reason to lie about it. It is what it is.
Not bashing I simply made an observation. Seems like everyone is seeing the same thing. Lie after lie after lie. Everything getting pushed back more and more and more. Fake articles being published. One lie after another on this stock. Just like the red herring lie.
Awe. I feel sorry for you. Luckily I sold when it ran up and made a profit. Feel sorry for bag holders still believing in a red herring.
Lol yes I agree the red herring is fake news. A lie told by Sussberg. Just more lies in this scam
Oh yes the red herring..... lol. See how that's worked out now. One lie after another
No doubt. They are going to punish common shareholders as much as they can for interrupting their shotgun bankruptcy.
I'm just saying there are reputable companies selling on Ebay. I would personally buy from their website as well. There was a time when they quit selling stuff on the website and put them on ebay. I was furious cause they were posting them as auctions and you couldn't get the normal prices they had sold for. Anyways, I still like their products.
We've been saying from the get go it was a scam. That doesnt matter unless someone can find some way to legally hold them accountable. So far the EC can't.
This is very misleading
Sussberg said it himself. He's been working on this over a year to make sure they get away with it
Right and the longer this goes on, the more bleak it is for shareholders.
Supposed to be mid July. Then end of July. Now mid August. Since we didn't let him have his way, he's gonna keep drawing this out to keep lining his own pockets. I'm sure another excuse will be coming mid August.
That should be obvious. They have been doing that since this BK began.
No they aren't but they cant do anything till after JC Penney does whatever they are going to do. So all they can do is update us and wait for what happens then act on it if they can. Like the judge said in the beginning the EC was created to explain what was happening. That way we have an understanding of why things were happening, that we would still get mad but at least we were mad and had the understanding of why it was being done the way it is being done.
It's just an update and unfortunately they are still seeing no return for commons. He would have no reason to lie.
Right so they also have to say, "We are working to understand the overall value and the transaction and whether or not they will be sufficient enough to provide a return for shareholders. " which indicates at this time they can not find enough value to provide a return for shareholders....
"We will continue to work to obtain a return for equity despite the Debtors' indicating there may not be sufficient value for a return to equity."
Definitely not encouraging
I would
Many reputable companies like Scottsdale sale on their platform
I could see that too.
Honestly it makes me wonder if it is on purpose and if they plan to settle shares around .30 per share with as much work as has been done to keep this in the .25-.30 range
Right. But once we find out the bids for the real estate they are selling, we can make a better valuation of where JCP stands. Should be interesting.
Right. All it is is to pay bonuses and money to the key employees as they are not considered insiders anymore and the filing is to protect who they are so their names are not public and they wont be chased down by competition
Lol. I'm still waking up too. Will have to read more when I get a chance. I do think though we will have a better understanding of what we are up against after we see what happens on this deal.
From what I read this is just about the real estate JCP is not keeping right? Not JCP. Or did I misread