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Why CEOs Are Buying Stocks Of Their Own Companies?
As legendary investor Peter Lynch said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
TOP EXECUTIVES like CEOs and CFOs are savvy buyers of their companies' shares. One long-term study showed that they beat the market on average by six percentage points a year.
Another study found that the aggregated activities of insiders can serve as a good indicator to locate market bottoms. Insiders as a whole are smart investors of their own companies.
President and CEO of Anthera Pharmaceuticals Inc. (ANTH) Paul F Truex buys 20,000 shares of ANTH on 06/29/2012 at an average price of $0.76 a share.
Anthera Pharmaceuticals Inc has a market cap of $27.8 million; its shares were traded at around $0.66 .
This is the insider trade history vs. stock price of ANTH. For the complete insider trading history of ANTH, click here.
http://www.gurufocus.com/news/181201/anthera-pharmaceuticals-inc-anth-ceo-paul-f-truex-buys-20000-shares
CEO knows how to get things done. Hopefully we see a buyout with this play.
Mr. Truex has served as Director, President and Chief Executive Officer since the inception of Anthera in 2004. He was responsible for negotiating both of Anthera's product licenses for Varespladib, our sPLA2 inhibitor from Eli Lilly, and A-623 our anti-BAFF peptibody program from Amgen. Prior to founding Anthera Pharmaceuticals, Mr. Truex served as a Founder, Director, President and CEO of Peninsula Pharmaceuticals. During that time Mr. Truex raised over $81 million of institutional capital (including $21 million from a strategic partner) and negotiated both of Peninsula's product agreements with Shionogi & Co., Ltd. (Doribax®, doripenem) and Takeda Chemical Industries (Teflaro®, ceftaroline). Peninsula was acquired by Johnson and Johnson in April of 2005 for $245 million in an all cash transaction. The remaining entity, Cerexa was subsequently acquired in 2006 for $480 million in cash. During his career, Mr. Truex has successfully raised over $150 million in venture investments and more than $200 million in various public equity and debt offerings including Anthera's Initial Public Offering in 2010 and Versicor's IPO in 2000. Mr. Truex has extensive experience in sales' marketing and business development in several industries including pharmaceuticals, biotechnology, consumer electronics, and telecommunications. Prior to Peninsula, Mr. Truex was Vice President of Commercial Development for Versicor Incorporated (acquired by Pfizer) where he directed early commercial efforts for their infectious disease portfolio and participated in the company's successful $55 million initial public offering. Prior to joining Versicor, Mr. Truex worked at Eli Lilly and Company where he served in various marketing and sales roles during the launch of three different products for the primary care physician market (Actos®' Evista®' and Humalog 75/25®). His business development experience includes the Lilly ICOS LLC joint venture' two majorproduct divestitures and numerous small research collaborations. While there Mr. Truex also worked with several product teams on various divestiture strategies.
Mr. Truex obtained his Masters of Business Administration in Marketing and Finance from Indiana University and a Bachelor of Arts degree in Economics from the University of Waterloo. Mr. Truex is a member of the Board of Directors of Trius Therapeutics, Eiger Biopharmaceuticals and Waterloo Pharmaceuticals, Inc.
A trustee has been signed and here is his email
richard.morrissey@usdoj.gov
2% is almost close to nothing.
You really think Atrinsic lawyer is looking our for shareholder interest? I dont think so... I urge everyone to read up on other BK plays and see how things played out.
Problem is you nor anyone else will know this number until the final day of BK. They can not release this info because it would be inside trading. You would be able to buy stock of the company and then converting it to new shares that would have more or less value then what it is now...
Folks, the company has $15mil in debt that will be converted into equity, it means be ready for dilution of shares.
look at the wamu bk case. the stock trades at nothing.
FOLKS LISTEN UP AND READ.
THE COMPANY WILL ASK YOU TO ACCEPT THE PLAN, AND IN RETURN 2 THINGS TAKE PLACE.
A. YOU GET NEW SHARES IN THE NEW COMPANY, 2%
B....
....
......
......
YOU MUST GRANT THE BOD AND THE COMPANY AS A WHOLE RELEASES FROM ALL CLAIMS AND FUTURE CLAIMS OF ANY LAWSUIT.
IF YOU DO THIS YOU CAN NOT SUE THE COMPANY, YOU CAN NOT SUE THE BOD, YOU CANT DO JACK....
READ THE PLAN CAREFULLY AND IF YOU VOTE IN FAVOR OF IT THEN YOU ARE GIVING UP ON A CLASS ACTION LAWSUIT OR ANY FUTURE ACTION.
I believe imo the company is hiding it's assets. calling spyder a propriety software it has value. This is far from over.
This is far from over. I will post the trustee email later and I need everyone to email him. We have all lost.I have more to do but busy with my wedding. Will get back on track next week. We need. To unite.
DOWNLOAD THE PLAN HERE AND READ FOR YOUR SELF
https://secure.logmein.com/f?00_.lAhi2roj8BljxoTcxjDeBCHo6OrEpiGtQ4eZilr
LINK IS ONLY GOOD FOR A FEW HRS
Between October 2011 and January 2012,
the Debtor issued an aggregate of approximately 92,600,000 shares of its common stock to
Hudson, Iroquois and AYM Aggressive Value Fund, L.P. upon their request and pursuant to the
terms of the Convertible Notes.
2% what a joke...
Class 4 (Interests).
(i) Classification: Class 4 consists of Holders of the Debtor’s Interests.
(ii) Treatment: On the Effective Date, the Holders of Class 4 Interests shall receive,
subject to acceptance of the Plan by the Class 3 General Unsecured Claims, on
account of their Existing Common Stock Interests in the Debtor, 2% of the
Reorganized Debtor Common Stock on the Effective Date, treating the
Reorganized Debtor Convertible Preferred Stock on an as-converted basis without
regard to the 4.9% beneficial ownership blocker and shall be subject to dilution as
a result of the Reorganized Debtor Stock Distribution to Class 2 and Class 3
Creditors under the Plan and as a result of a Business Combination, if any.
I agree, its very nice to see green, Always with any stock. I wish more would send in a letter to the judge asking for a EC to formed for us. So far I dont think any of done it other then a few.
That is out of my hands and out of the hands of us shareholders now.
I have plenty of things in writing but it does not mean it will happen. I do not think we see a POR and I have strong reason to believe so. If I am wrong I am wrong. This has nothing to do if I sold or not. You think because I sold here does mean I am gone? No , you dont know what I have been doing behind closed doors. I wont say anything else out of respect for a few guys that our working on something.
No I am not. That is just me. Everyone is buying playing the POR news.
No, Folks are just playing the rumor on news. Do not be surprised if there is no POR out.
T-form are usually dilution.
July 12 and 13, 2012
The Peninsula New York
JMP Securities presents its seventh annual healthcare industry conference, an institutional investor forum featuring more than 100 publicly traded and privately held companies in the life sciences sector.
Love plays like this because we are in at the bottom, They went nose dive downhill when there primary goal was not met in the Lupus drug study?.
I can see it bouncing back hard with some good news.
Canaccord Genuity Reiterates Buy on Anthera Pharmaceuticals (ANTH)
http://www.jagsreport.com/2012/07/canaccord-genuity-reiterates-buy-on-anthera-pharmaceuticals-anth/
Loaded the boat with 44k shares. lets see where this goes.
The Securities Arbitration Law Firm of Klayman & Toskes Launches Investigation On Behalf of Patriot Coal Corp. Shareholders W...
Patriot Coal Corp. (NYSE:PCX)
Today : Thursday 12 July 2012
The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), www.nasd-law.com, announced today that it is investigating claims on behalf of Patriot Coal Corp. (NYSE: PCX) (PCXCQ.MX) shareholders who sustained investment losses due to an over-concentration of Patriot Coal stock. Trading at about $80 per share in June of 2008, the share price of Patriot Coal has plummeted and is now essentially worthless. The company filed for bankruptcy protection earlier this week. As a result, investors who held concentrated stock positions in Patriot Coal during this time period have sustained significant losses.
Since 2000, K&T has pioneered the representation of High Net Worth (“HNW”) and Ultra-HNW clients who sustained investment losses as a result of holding concentrated positions in a single security or sector, in a full-service brokerage account. The clients we represented and continue to represent include founders of public companies and key employees from virtually every industry who received large grants of stock options or Rule 144 restricted stock. The claims, filed in the Financial Industry Regulatory Authority (“FINRA”) Arbitration Department f/k/a NASD and NYSE, focused on the mismanagement of the clients’ portfolios given the fact that there were risk management strategies that would have protected the value of the concentrated portfolio. Such risk management strategies include stop loss and limit orders, protective puts and collars. Stop loss orders, limit orders and protective puts provide an account with downside protection and an exit strategy should the stock decline in value. A hedge strategy, known as a “zero cost” collar, would have created a range of value that the portfolio would have maintained irrespective of the fluctuation and direction of the underlining stock price. The failure to use risk management strategies as well as the failure to “hedge” the value of a concentrated portfolio directly exposes an investor’s concentrated position to the fluctuations in the volatile securities markets.
If you wish to discuss this announcement or sustained losses of $750,000 or more as a result of holding a concentrated position in Patriot Coal stock, please contact Steven D. Toskes, Esquire or Jahan K. Manasseh, Esquire of Klayman & Toskes, P.A., at 888-997-9956, or visit us on the web at http://www.nasd-law.com.
Sprint is becoming a big destination for MVNOs because of its flexible policies, and recently many other operators have begun following its lead. In the last year, both T-Mobile and AT&T have become much more welcoming of MVNOs.
Sprint, though, appears to be countering its competitors’ new openness to wholesale models with an even more aggressive stance. In addition to FreedomPop, Sprint is making LTE immediately available to Ting. It’s unlikely any of the remaining big 4 will be so willing to share their brand new 4G networks with partners so quickly.
“At Sprint we believe that our wholesale customers’ success is our success,” Sprint President of global wholesale and emerging solutions Matt Carter said in a statement. “We deliver a suite of innovative solutions that are customizable to the needs of each company and we are thrilled to enable new and innovative business models.”
By end of yr the losing part of the company will be shut down, the iden part. looking for a nice end of yr rally here.
Sprint promises unlimited LTE data for iPhone 5
July 8, 2012 | By Tammy Parker
Sprint Nextel (NYSE:S) expects to offer unlimited data service for Apple's (NASDAQ:AAPL) LTE-compatible iPhone 5 when it comes out this fall, that is, if the rumored iPhone 5 actually launches and if Sprint gets it.
"When the iPhone 5 comes out, if we get it and when we get it, we'll offer unlimited (data)," Steve Elfman, Sprint's president of network operations, confirmed in an interview with Investor's Business Daily.
"I don't see a scenario where Sprint won't get an LTE-capable iPhone at the same time as Verizon (NYSE:VZ) and AT&T (NYSE:T)," said Bernstein Research analyst Craig Moffett, in the article. "The problem is they will be so far behind in their LTE network when the iPhone 5 comes. AT&T and Verizon will be much further along, with much better spectrum, offering higher speeds. That could make a Sprint iPhone a tough sell to consumers, especially if LTE capability is the cornerstone feature of the next iPhone."
Read more: Sprint promises unlimited LTE data for iPhone 5 - FierceBroadbandWireless http://www.fiercebroadbandwireless.com/story/sprint-promises-unlimited-lte-data-iphone-5/2012-07-08#ixzz20LDBJUeL
Subscribe: http://www.fiercebroadbandwireless.com/signup?sourceform=Viral-Tynt-FierceBroadbandWireless-FierceBroadbandWireless
Sprint’s LTE network nears completion in 2013, it will begin phasing out WiMAX radios and rely solely on its Sprint network. Miller said FreedomPop may revisit the Clearwire deal in 2013 if the carrier can launch its own LTE network as planned, but even then Clearwire has only committed to the same limited LTE footprint it currently covers with WiMAX.
What’s astonishing is that Sprint is throwing the gates of its LTE network wide open to wholesale partners shortly after it launches next week. Typically, operators keep their latest and greatest technologies for themselves – it took years before most carriers started offering MVNOs access to their 3G networks. But according to Miller, Sprint isn’t just being liberal with its network, it’s also being flexible in its pricing policies.
Sprint going to be a monster stock by end of month.
there going to be killing it with the LTE network, also end of year they go live full blown, the wholesale market for there service is going to drive the stock price to at least $5+
$3.21 looking good now.. took a nice starter position.
Forward Looking Statements do not protect ANYONE from fraud... A huge lawsuit was filed last month by a shareholder and it's going to be getting class action status by end of month.
Patriot Coal DIP includes $377M roll-up, $425M of new money
Patriot Coal’s proposed $802 million DIP facility would be comprised of a “first out” facility consisting of a $125 million asset based revolver and a $375 million term loan, and a $302 million “second out” facility into which letters of credit currently outstanding under the company’s existing credit facility would be rolled, court documents show.
According to the company’s motion seeking court approval of the DIP facility filed yesterday in bankruptcy court in Manhattan, the company said that a total of $377 million would be used under the facility to refinance existing debt, providing the company with an additional $425 million of incremental liquidity. In addition to the LOC roll-up under the second-out facility, the facility would also repay $25 million of direct borrowings under the company’s prepetition credit facility and backstop roughly $51.8 million of letters of credit issued under a separate prepetition accounts receivable securitization program.
The company said it is seeking access to $677 million on an interim basis, which includes $250 million of the term loan portion. The company would gain access to the final $125 million of the term loan upon final approval. The court docket does not yet show a final hearing as being scheduled, but the company asked the bankruptcy court to hold a final hearing within 30 days.
Under the first out facility, pricing for the term loan would be at L+800, with a LIBOR floor of 1.5%, the filing shows, while the revolver would be priced at L+325, also with a LIBOR floor of 1.5%. The second out facility is priced at L+800, again with a 1.5% LIBOR floor.
The term loan carries a commitment fee of 0.75%, the court documents show.
As reported, Citibank is the administrative agent for the first out facility and Bank of America is the administrative agent for the second out facility, with Citicorp, Barclays Bank and Merrill, Lynch, Pierce, Fenner & Smith serving as arrangers. – Alan Zimmerman
Oh I am with you. The shareholder lawsuit that is taking place now is going to be interesting.
the lawyer is on vacation until the 19th and I can assure you hes going to be pretty dam busy.
They could not get financing outright, Banks only wanted it to go thru BK, they will restructure the bad debt and pay pennies on the dollar for the debt and start fresh. This is long from over, its going to be a fun play for a while. But do expect a Q in the next day or so and I also think we touch .18ish
They can use chap 11 to wipe out any unsecured debt they want including shareholders.
Banks wanted them to file BK..Bank is in control not the company.
There is already a shareholder lawsuit going on, It was filed last month. It's going to make this case so much more interesting.
This is going to be a very interesting play, When was the last time a company filed BK and had that much of institutional holders holding the stock?
I can tell you this, It's going to be a long and interesting play. commons are not going to get wiped out.
CWTR looking interesting!
There is already a HUGE shareholder lawsuit brought on by a big time holder of the company. It was filed last month.
I doubt it. It's going to get ugly tomorrow. We could see .10