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Whoever is trying to get this class action together won't be able to get a law firm to look at it to get it certified as a class unless they have info for 50. I put my info in and I am a lawyer.
What about suing the Trustee of the Trust (it is a Delaware trust per the prospectus) for breach of fiduciary duty?
I agree that we are subordinate to most other classes, but does anyone know anything about this? http://www.lehmansecuritieslitigationsettlement.com/lbe/securities.php
That will not happen. The administrative fees including attorney fees are post-petition, so not dischargeable as incurred after the bankruptcy was filed.
The ask on the L's is $35, not 35 cents but 35 dollars!
I'm pretty sure the trustee has immunity
Okay, just looked at my Schwab account in which I own all 4 CT's, however the shares I have owned longest are listed as Marginable and the newer shares are non-Marginable. Why is Schwab making this distinction and why the heck are shares in a 13 Marginable??
Are there any forms that we need to submit to Epiq or the trustee? What about a W-9, or (if things are paid) will they just be paid through our brokerage accts?
Whatever happened with this? (Issue of trustee failing to act for capital trust shareholders). http://www.sec.gov/Archives/edgar/data/933425/000093342510000009/acdu0330.htm
I think 'why are we trading if cancelled' might be a better question for the SEC? (Correct me if I'm wrong)
Do I smell a class action? Does anyone know a bankruptcy attorney in NY? My issue is that when it comes to distributions, the Trustee will take the path of least resistance. This is new territory- biggest bankruptcy ever. We have already been shown that errors have been made when all shares were erroneously delisted in March. . . I don't want our interests to get lost in the mistakes.
Hmmm, not so sure about that. I think we need to examine other bankruptcies to see if there is any precedence regarding the federal reserve in an 11. . . This isn't dead on, but it is interesting reading. Perhaps this gives us an idea of someone to contact as unless we have a voice the court will take the path if least resistance. . . http://newsandinsight.thomsonreuters.com/Legal/News/2012/08_-_August/Federalism_fight_in_Stockton_s_Chapter_9/
What is the estimated timeline on payouts (if any) on commons and on preferred. I was under the impression that preferreds would not receive a dime (trust me, I hope we do- I have over 400,000 preferred shares! In addition to my capital trust shares). Any guess on pennies per dollar on the call price? next payout is September 2012, correct? Think CTs or preferreds will see any action?
I'm sorry to seem so naive, but this means we get nothing, correct?
Why is the ask on LEHPQ up to .60, but no movement on LEHGQ? Aren't they both the same class of preferreds?
So, if the capital trust shares value at $25.00/ share (excluding any dividends that are suspended), then at $0.18 on the dollar, these shares should be worth $4.50 a piece (if actually paid $0.18 on the dollar). Is this theoretically correct? Thx!
Thanks for the info. Do you think there is any hope for the preferred?
I respectfully disagree about waiting until January 26th. We cannot sit on our rights (or wait to see what actual rights we have in this circus). Further, you can't bring a class action overnight . . .
Many times attorneys will accept cases on a contingent fee basis-- they don't get paid unless they recover for us-- the standard contingent fee is 1/3 of the recovery (plus expenses). Perhaps we should contact one or more of the firms who already represents creditors as (also see if a firm represented JP Morgan or if they had in house counsel) and see if they would be interested???
Umm, my brokerage account has LEHGQ listed at .01 (900% gain). . . .what's going on?
For the non-savvy (i.e. me), what does this mean? Thank you in advance:)
What do you mean "to be a naked short on the commons and preferred before they are cancelled"? Sorry, not familiar with the terminology. Thanks!
Linda, by "Sub Note" holders, do you mean holders of Preferred Shares or only Capital Trust Shares? Thanks!
So, do you think stuff like this is legit? http://www.lawyerviews.com/lehman-brothers-lawsuit.html
Given the "unanimous" support of the Ch. 11 plan, are we totally screwed?
So are we totally screwed??
Check this out----
http://www6.predictwallstreet.com/PredictionBoard.aspx?symbol=LEHGQ
shows Last: 0.02 |Change: -0.02 (-60.00%) |Volume: 22,500
This means another 13,500 shares were sold that are not yet showing up elsewhere AND that someone somewhere paid .04
Hopefully the beginning of a run . . .
Linda:
I own about 200K shares of LEHGQ (which is now gray market) in addition to the various Capital Trust Shares. What, if anything, should I be doing to possibly recover on the LEHGQ shares? (If your know or to recover on common shares, etc.) Any help or direction is much appreciated.
So what is the timeframe? I didn't see the plan?
So what now? Anyone?