Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
One of the directors of MESA is tied to another class action from stockholders of his other company. He sits on the board of PolyMedica Corporation as well. Looks like a pattern of cheating.
HARTFORD, Conn., Dec. 20 /PRNewswire/ --
A class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons who purchased the common stock of PolyMedica Corporation (Nasdaq: PLMD) from September 3, 1999, to November 17, 2000, inclusive (the "Class").
Plaintiff is represented by the law firm of Schatz & Nobel, P.C., which has significant experience prosecuting class actions on behalf of investors.
I think that the unrest that we are seeing in Europe, Mid-East and Northern Africa is not far from our own doorstep. It is sad to say but you can feel the tensions rising between the haves and the have nots. Those that work for a living and those that fleece it.
It is too bad that MESA and other companies like them can't see the damage they do to their bottom line when they live strictly for it. I know many people in Arizona will never fly with them again. Unfortunately, if the government doesn't tighten up the BK laws this game will be replayed over and over.
Man doesn't know how to think about anyone other than themselves so I don't plan on anything changing anytime soon.
It looks like it is a notice of deadline for filing executive claims. I don't think that would pertain to any of us here. Anyone else with further clarification?
My value did not zero out. My portfolio still shows X number of shares to MESAQ @ .003 with trading closed.
Holding pattern for possible new stock replacement????
We all understand what you are saying PORT. I am in the same crash and burn scenario. I was a big owner before it went PINK. I trusted them to be honest but in the end they played like any business would I guess. They didn't want to be beholding to a massively diluted stock so they wiped us out in order to please the new stock holders...the creditors...minus us. The real screwing happened when we requested to form an EC and the BK Court denied our requests. We did not have the leverage then and we don't have it now.
It wasn't personal....it was business. Right?
So when does the class action against MESA get filed? A lot of people were screwed out of their money. I understand to a small degree that they might not want to compensate for shares purchased in the PINK, however there are many people like myself who have owned MESA stock for years. I won't be out on the street because of this loss but it stings. Mainly because of the nature of the loss.
If the company goes BK and then down the drain, well I can swallow that. But when the shareholders stick with them and they come out saying the skies are blue and everything is grand but push the shareholders out the door without a parachute then it hurts.
Just very frustrating.
Time to invest heavily with their competition I suppose.
I was just getting ready to post the same thing.
What about this part?
-- Emerging as a private company that will issue four new series of notes,
shares of common stock, and/or warrants to purchase shares of its common
stock to its creditors in exchange for their claims in the Chapter 11
proceedings;
Hey that's good for us, right?!
It's 76 today. Its snowing sunshine.
That being said....Have you ever watched a demolition derby?
I am the poor guy with the steaming radiator, four flat tires, bumpers draggin' the ground, and brakes gone but I'm still inching along. Sure theres still one more competitor bearing down on me...and he's driving a bus...but maybe, just maybe he'll miss me and hit the wall.
This has been a rough ride and doesn't look pretty but I ain't getting out until I know for sure its all over.
That's what's great about this country. You can be stupid and/or adventurous when you choose to be.
Some are saying that in order for MAG to exit Chap. 11 they must satisfy an administrative claim to the the tune of 40 million. Until that has been paid in full, in cash MAG will basically linger in Post plan approval purgatory. Once this claim is satisfied, the court will assign an effective date for the plan, which will basically be MAGs exit date from BK.
Lately there hasn't been much public information regarding the admin claim or attempts to resolve it.
I absolutely don't want to see them cancelled. Most everyone keeps saying they will be. I just wish the company would come out and say they won't be. That would drive this up higher and you would think that it would be better for MESA to have a higher stock value as they leave BR. Right?
Our shares are going to get cancelled though right?
I've owned their stock for over three years. I always stuck with them because I know some of their employees and liked the chances the company had. I was right in the respect but didn't realize the company would dump holders before moving on.
Anybody think that there is any possible way that this might be able to get back to .05?
Mesa Air Group Investor Q&A
Impact on Shareholders
1. I am a shareholder, what happens to my stock?
There is no assurance as to what value, if any, will be ascribed in the Chapter 11 case to
Mesa’s existing common stock or any other equity securities. See also paragraph no. 5
below for more information regarding trading of the Company’s common stock.
2. Do shareholders receive payments if shares are cancelled under a reorganization
plan?
Creditors have priority over shareholders under the provisions of the U.S. Bankruptcy
Code. Shareholders are not entitled to receive a recovery under court-approved
reorganization plans until all creditors and others ahead of shareholders in priority
receive payment in full.
Everyone should contact the Phoenix/Mesa AZ Channel 3 news team about the border line corrupt actions of MESA in this action. MESA won't want bad PR as they start fresh.
CONTACT INFORMATION:
CONTACT THE 3 ON YOUR SIDE TEAM
Do you have a consumer problem that you can't resolve? Maybe Gary Harper, Carey Peña and the 3 On Your Side team can help.
Collect copies of your receipts, papers and other documents to prove your case. Include a note explaining your problem, along with a day and evening phone number so we can reach you, to:
3 On Your Side
5555 N. Seventh Ave.
Phoenix, AZ 85013
If you prefer, you may e-mail information about your complaint to 3oys@azfamily.com. Because of the large volume of letters 3 On Your Side receives, we regret that we can't respond to each individual letter or e-mail.
You can also call (602) 207-3470 for instructions on contacting us.
What happens to employees shares? Don't they hold common as well?
What happened with VSTNQ? Did the stock still trend up after POR approval?
So all of our shares are trash then? I stood by this company through thick and thin for over 5 years. I live in AZ and support its companies and this is the thanks I get? I don't know who to be more pissed at. The judge that approved the theft of my investments or the company that suggested it. Might as well live in China.