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What would be the PPS when Feds intervene?
Pls provide your fact source.
Is your premise that small fish bought 90% post BK and never showed up in any group/activity?
Facts:
1. Records show 90% owned by institutions at the time of BK.
2. Aggregated Volume post BK is less than 90%.
3. No institution selling.
4. Current short is owned by institutions long pre BK.
You know that is was not available to short long before BK. Institutional brokers have to secure equal number of long shares owned by institutions before short selling it to institutions to avoid SEC violations.
Where's 90% of shareholders?
We know that is is owned by institutions, so the question is: Were they fooled like the 10% and ready to write it off? No, they would not be in the job. Why did not they join the shareholders group? Are they hedged? Are they waiting to hit the jack pot (when, how)?
1. Are lawyers pragmatic by asking for $750K from a small group or they know it's over?
2. What's Feds position? How likely they will turn the table?
Former SunEdison Executives File Whistleblower Lawsuits say were fired in retaliation for sounding the alarm about the company’s finances
http://www.todayevery.com/share/S1xeRvmRKx?hint=SB10559519697244824476804582642004088639744?responsive=y/articles
What's your PT ?
With all due ...
you lost your case by focusing only on current numbers that are a small piece of the puzzle and not in line with previous reports which triggered the investigations.
Layers let'm do the hard work, then hit the jack pot.
Their record speaks.
It's not worthless as Judge did not wipe'm out yet.
Case facts show fraud before and after BK in not filing financial statements and adding assets step by step.
Multiple Fed investigations are not typical in every BK.
Why would they object to EC knowing it's worthless ?
Is BoA also insane ?
He's working on a viable plan, unless you have a better one ?
Can you please answer # 27873 ?
Enjoy your academic research !
You hinted before that the only hope for commons is if fraud prevails. Then, you'd agree with Steve Miller's end game.
Would it benefit all commons ?
What's your TP ? When ? Chance % ?
On point !
You say it's digging a deeper hole, and the only hope if fraud prevails.
How helpful is it with no assets ?
How much debt are we still under ?
What's your TP when wiping out risk vanishes, and yieldcos are sold ?
Do we have a deal ? 22 projects = $0 ? I'll trade'm for my shares.
It confirms our position as you stated earlier that pressure is mounting on X-Execs/board, current mid mgmt, and auditors. They are between a rock and a hard place. They are haunted by massive legal actions and criminal charges to release and liquidate excluded and hidden assets to satisfy shareholders, or ... for the rest for their lives.
Is Sal Graziano also a whack ?
Who's dumb in BCC email to court?
September 7, 2016
The Honorable Stuart M. Bernstein
Mr. Salvatore Graziano
United States Bankruptcy Court SDNY
Managing Partner
1 Bowling Green
Bernstein Litowitz Berger & Grossman LLP
NY, NY
Dear Judge Bernstein:
If you haven’t read the class action complaint filed July 22, 2016, I recommend it is worth your time to
do so before the next hearing. My primary issue now is to ask the court to replace KPMG due to their
complicity with internal accounting that destroyed the financial reporting system of sune.
The big difference between the Enron case and sune is that Enron manipulated electricity prices costing
customers. Sune confined its damage to owners of securities. The last time I spoke to you I mentioned
sune executives literally went berserk. The aforementioned complaint confirms my diagnosis.
Allowing sune to continue servicing their customers is benefitting the customers and the securities
holders. The 15 year and 20 year agreements with each customer is a great asset that isn’t on the
financial statements. Your latest decision that sune is “hopelessly insolvent” is probably a mistake for
the following reasons:
1.the financial statements are not accurate
2.there is a constant sizeable revenue from excellent companies that need the clean
power from sune
3.the class action lawsuit needs to add KPMG and Goldman at least
Please allow me 10 minutes to address the court on 9/15 during the next hearing.
Respectfully submitted,
Steve Miller
Who can be this dumb in BCC private email to the court?
Holding long & strong to the worst investment you ever did to find out that it is the best that made you a millionaire as BK is getting more interesting:
1. Valuable Assets were excluded from BK.
2. Multiple investigations are ongoing.
3. The judge said math does not add up.
4. The puzzle is filling: stocktwits.com/Me_XMan
What's next ?
Hold your breath !
Thank you ! It will emerge soon.
Judge did not consider cancelling shares. Shares dropped when he declined the OEC at that time, but he also said that he may consider adding it in the future. This is why we are still here.
Yieldcos deal will save it giving that the ramifications on the future of SUNE and its employees are huge in the case of cancelling commons compared to keeping them.
Cancelling today will save them less than their bonus, trigger massive legal actions, and they will not be able to sell new shares. While keeping them will cost them $0, minimize the risk of legal action, and polish their image to emerge and sell new shares.
I agree. The judge said math did not add up, so they have to release real numbers and assets in line with financial statements released in 2015, or face serious criminal charges not limited to X-Execs since such statements are prepared by a large number of employees at different levels in different departments/locations before being audited by independent auditors and released. Mid level management are still on the payroll and receiving bonuses.
They usually cut a deal to cooperate and save themselves, if not a whistle blower.
So it will emerge, the question is whether commons will survive or not.
Nobody knows the end game because a lot of pieces are missing from the puzzle, but you'd agree that saving commons is in SUNE best interest to clear their name and emerge.
Wiping out commons is a losing scenario that may take place only in Ch. 7, or if ordered by a judge in Ch. 11 based on compelling evidence that he does not have yet. It will trigger class action lawsuits and criminal charges for losing more than 90 % in a few months without facing a major natural/economic disaster, nor hinting Feds/investors/employees.
Was it negligence or fraud ?
Who will buy new shares after wiping out commons and emerging ?
X-Execs are not in direct control, but they are not totally out of the picture while financial statements that were due a year ago have not been filed yet. It's in SUNE best interest to fully cooperate, as they are, with court appointed and Feds.
Is that your argument based on facts ?
Just keep in mind that X-board/execs have more interest to see it coming out of CH. 11 to save their lives from multiple ongoing investigations.
If he's right, DIPs would have settled during intensive negotiations involving inside info pre Ch. 11 once they saw high risk down the road.
The fact that not a single one of them did it proves him wrong.
please read thoroughly. Responding to Fangster, I wrote that it would have have happened, if he were right.
You will win the lottery soon as it will skyrocket with the sale of yieldcos and/or their controlling stake. It will not be wiped out before filing delayed financial statements, and selling all assets not just those included in voluntarily Ch. 11. Worst case scenario : 0.05 -> 0, is not a big loss for shareholders and highly unlikely. Ch. 7 : auctioning all assets including IPs which means > $1/share, also highly unlikely. Most likely scenario, it will emerge soon and rise.
Thanks Niels !
They played Ch. 11 to get rid of as much debt/lawsuits as they can while hiding assets, starting with the easiest at the bottom (class A shares). They got caught red handed before the judge hinting that numbers do not add up !.
Why would they fight OEC if there's nothing left, while asking for $7M for bonuses ?
They see their back against the wall as the game is over, and their feet are dragged in deep mud in multiple investigations.
Their best case scenario is fraud. They will pay high price in any outcome.
Simple analysis: Shareholders vs. SUNE
Shareholders live in peace, while SUNE's officers are between a rock and a hard place.
No OEC is not wiping out shares. Shareholders have been on the roller coaster for a while and accepted it.
What are SUNE's arguments and most likely scenario ?
A. Inadequate assets after deflated share prices ?
They can't make the case of market collapse similarly to Oil fracking companies or the 2008 financial crisis.
This argument implies price pumping thru fake releases.
The share price does not make, but reflects a company value based on assets/liabilities.
Did they cook the books to pump the share price?
Did they fool professional institutional money managers ?
Why are they fighting against an OEC decision knowing that there will be nothing left for the naive at the end of the line ?
They tried that game and failed earlier with the DIP prior to bankruptcy.
The DIP have a fiduciary duty, and are more competent than most individual shareholders to make the best decision in the best interest of their clients.
Why did the DIP not settle for pennies ?
After intensive negotiations involving inside info, they became confident they will get fully paid.
So this is the least likely case.
B. Are they hiding assets from court ?
That is committing suicide.
Why did the judge hint that numbers do not add up ?
He may have tried to give them one last chance to make it right after they got caught red handed,
They are under investigation by multiple agencies. Delaying filing financial forms is not an excuse/defense.
Public officers/board members have serious consequences and severe punishments for the rest of their life.
How many lost everything/committed suicide ?
They can not hide their fish any more.