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Robo...I honestly have no idea. I called them when this first started popping a bit just to make one final try bc I was tired of seeing it in my account with an asterisk next it and told them exactly what took place and the history of this stock, and they took it from there. It took them much longer than originally stated, and they had to keep passing it off to a more experienced trader and/or associate, but it eventually got done. No clue on specifics though sorry.
Waterchaser...I completely understand where you’re coming from and have always agreed with you BUT I gotta say this. Just got off the phone with Merrill Lynch. Its been a month and several phone calls, but they told me I can now sell a majority of my dividend shares, and they’re working on the rest. No idea how or why as Im not as well educated as most of you in these financial things - I can only say what I was just told by my brokerage. They did say it was rare and complex. Good luck to all.
Thanks Suj_S ! And yes the guy I spoke to said they will call and I need to answer the call - they have a 15 minute interview or something bc it’s so many shares. Hopefully it works out - have you gotten a final resolution yet?
I’ve been here awhile. I gave up on this as well but with the recent pop I tried to sell my shares today. No go with Merrill Lynch BUT they started the process of releasing the dividend shares. I was advised it would take 3-7 business days to do this depending on what was involved. Not holding my breath but a glimmer of hope. You actually need to speak with someone to start the process however. Good luck !!
Thanks for response. Have a good one !!
Hmm interesting...Im w Merrill Lynch and it is still showing an asterisk. Did yours show a restriction still when you traded it? How do you think they got unrestricted? Thanks for posting. Im kinda shocked actually.
Nothing really needs to be said but obviously there is NO credibility here with this stock and joker CEO and scam artist until restricted shares are lifted/released. Total crime here - hope someone investigates this joker.
Article briefly talks about China and 5G. Barr says they had to pick a horse - I guess FiberTower wasn’t that horse. So much for ATT handling this pickpocket professionally - what was the word they used I forget ? smh
https://www.foxnews.com/politics/barr-delivers-ominous-warning-says-china-wants-to-own-the-world
Anyone else’s blood pressure go through the freaking roof every time you see one of those ATT 5g commercials?????
Hear anything back Mojo ?? Im shocked that with the over abundance of lawyers here in the good ole USA there are so few willing to take a good look at this. Guess they all want the easy plea bargain $$$. Thanks for stepping up Mojo.
Im a small fish, but $4-$8 share would be huge for me and my family - blue collar scrub here. Im in Maryland but am very much interested in meeting some fellow shareholders if willing and able to meet and discuss a gameplan moving forward. I will pony up some cash within reason because I truly think we have a case here. Its another gamble but thats what i was doing buying FTWR in the first place. Where is everyone from - would others be willing to meet and game plan moving forward ??? This board bashing is getting tiresome and all/most of you have valid points. I dont have the knowledge or experience in these types of matters to contribute intelligently but would like successful closure to this soap opera. Who wants to meet up? I would drive or fly if enough people are interested. I should have gotten off my ass and flown to Texas. I could have piggybacked Levy Fahy in the courtroom hallway because I truly believe they got a hush up settlement. But I also believed that this would never happen - this world is f’ed up. We can make another parasite lawyer rich but better than nothing. Who’s interested???
Yes, but I don’t see a PAID IN FULL stamp on it LMAO
Thats how I read it too Sonny. I agree with you and thanks for the hard work and keeping the glimmer of hope alive
Helloyah - you might be right because Im not a legal scholar. But Google it - The definitions I read seems like it would apply to old shareholders. Just my opinion but this case is sooooo crazy you might be right. No idea !!
Well said Burrito...amen. What is the event or date that we’re looking at here as far as the conclusion of this settlement/acquisition...in other words the day we can celebrate or more than likely knock back a few drinks to ease the pain? No filing has been posted on the SEC website correct? Does that need to be done or I think someone said it doesn’t necessarily have to be? Someone also said that there is a certain time period after the bankruptcy case to complete deal - what date would that be - our doomsday date or party our ass off date? Thanks for your efforts Sonny
Yes I totally agree with you Kamrankha - that was my biggest takeaway out of that case transcript. Any legal scholars on the board to see if that obstacle can be hurdled ?? I gotta think we can always go back and fight the fraudulent value assessment after this information came to light. Personally and foolishly - Im not a brain surgeon by any means as you know (amateur investor) - I was not as tuned into this case back then as I should have been and wasn’t following this board as zealously as I do now. Had no idea as to the amount of shady dealings in this case, and I was quite naive as to the government and courts looking out for whats best for its citizens. Crazy stuff - greedy bastards.
I think there’s plenty of hungry shark attorneys out there that might take on this case. Maybe we should let it play out a little bit longer and see if we get screwed - most likely scenario at this point - still the tiniest of chances though. They would probably take most of the money (class action style), but it might be worth it to get just a little something and moreover penalize the dirty players (several) in this crazy case. This is so shady even 60 Minutes might take it on but not sure they could fully cover all the bull...t in a 20 minute spot and moreover most people dont care as long as it doesn’t affect them adversely. Where’s wirelessman been? I admire your input and knowledge of this subject matter.
I personally won’t buy a share or spend a penny on this scam until that turd up there TM ^^^ lifts the restrictions on our untradeable shares. Then and only then will I possibly even consider buying more (small chance even then) - the MM sector is a great possibility to make money however I believe this company is nothing more than a scam. Once we see the machine, his license, a legitimate website, and shares lifted, normal investors might possibly take this halfway seriously but not until then our paid pumper friends.
I think I recall seeing Levy and Fahy addresses on one of these court/FCC documents as being served notice on the last page. Wondering if anyone gave thought to looking up phone number for those addresses if possible or sending some kind of correspondence - seems like it might be crossing the line ethically on the personal privacy front though. Not sure I’d want some stranger/random shareholder contacting me if roles were reversed. On the other hand, its public record and they put themselves out there. Im undecided where I stand on this. Just like probably all of us, this silence and cloak of secrecy is driving me nuts - Im craving closure on this ridiculous case and they might be able to provide more insight as to what happened in that courtroom or behind closed doors without having to wait 6 months or whatever. I still think there’s the tiniest of chances some backroom deal got brokered.
In general, Im feeling pretty down about this whole debacle. However, Im still maintaining a sliver of hope for a little while longer. Obviously, even the author of that article is being shut out from all the information, and it just seems there’s more to this on so many levels as we've stated before on this board. End of 2nd paragraph, it says “and other interested parties” - that gives me slight hope. Fahy and Levy or their attorneys I assume were in the courtroom due to their apparent high interest in the case - if things were that bad the bailiffs would have had to drag them out kicking and screaming. We might have heard from them somehow I believe. Im thinking this case would have gone on longer in court if there wasnt some kind of settlement in court to make everyone happy. One other thing, dont you think Verizon might have a serious problem with this also after having paid billions for their spectrum and ATT fleecing everyone for Fibertower. Got to be more to this - not this simple. We’ll find out soon hopefully.
What does that mean in layman terms ? Old Fibertower shareholders are screwed ???
Nice find Code - where did you find that ?? Anything else ??
Is the case over or still continuing - can you tell by the website? Seems like a very complicated case to get through on an afternoon docket. Or did the judge have all the info and just inform everyone of his ruling ???
I hope so and I agree Sandpaints. This lawyerspeak in the documents is long and arduous stuff to get through and intrepret though. Thanks to whoever paid for the attorney who read and intrepreted the “transaction” for us - it makes me feel a little better regarding the outcome but still not feeling great about this whole deal. Still so strange that the “transaction” terms are such a secret and the shareholder agreement is such a mystery - why do you think that’s the case? Thanks Codesilver for finding and posting all this stuff. Reading through all these FCC hearing transcripts I agree and get the definite feeling the FCC needs this 5g out there and will find a way to expedite the process to hell with ethics and whats right...hopefully to our benefit...lol. But what a crazy case. Good luck to all and thanks for posting these links. Hopefully terms of shareholder settlement agreement become public soon.
Totally agree with you prkvw75 !!! Not sure who we should be rooting for here. One in the hand or two in the bush.
Me no likey...that puts Fibertower and every entity in this farce in bad light. However, this whole case is so shady on every level. The final outcome is anyone’s guess. How bad/negligent was Fibertower in the buildout process - were they in fact stalling/hoarding the licenses or slow to build? I thought they weren’t as negligent as the CCA portrayed them in this document. Didn’t Fibertower come out looking pretty good in the FCC court hearing?
Quiet before the storm ?? Is tomorrow the day we've all been waiting for supposedly? Or just another day in the life of this saga? Betting on the latter as something else crazy will pop up
Still confused as always....under section 20 4th bullet - distributions of New Fibertower stock?? Huh ??? What does that mean?? Any ideas from anyone
I didn’t think it was possible, but I’m more confused now than I have been in the past 6 years. No idea who I’m supposed to be “rooting” for now except for of course those of us on this message board/FTWR shareholders. If CCA gets the STAY, does it all go back to square one? I’m not greedy - I’d be ecstatic with $3-4 share but ok with $2. This soap opera has been going on way too long - by the time they settle this mess 5g will be outdated and some new technology will be taking over - jeez. I just want enough to pay for my kids college tuition !!
No one on this board is doubting the fact that this MJ deal in Cali is a money maker. What we doubt is the legitimacy of this company, and these two yahoos running it. I hedged my bet and still own lots of shares but sold half back during the “run” couple months ago to ensure my profit in this. But this so called “company” is so unprofessional it is mind boggling. These two deserve jail if they are not moving forward. There is still a 1% chance they're just horrible businessmen, but I believe they’re criminals. We’ll see. Not buying more, but Ill hold onto some just in case the blind squirrel finds a nut. Good luck everyone!! Can the moderators please remove that head shot of this POS CEO on top of the board - I get sick to my stomach everytime I check this board.
Does anyone know if this motion to stay will include Fibertower under an umbrella or will they have to make another motion specific to the ATT Fibertower case? Does this help us in the long run in terms going back to square one and auctioning all this spectrum off?? I’m so damn confused by this case - I feel it should have been plain and simple and straightforward - how did this happen - it should not have been this crazy. We bought shares in a company because we believed in the product they possessed and now this has turned into a cluster due to greed. I wonder if these lawyers would listen to Fibertower shareholders since they’re familiar with the case obviously or if they’re bound by conflict of interest???
If this is a done deal, I think we need to get something going here from this board and soon. Who is this Levy guy? I assume he's an attorney with something at stake or has a client who has something at stake. Unfortunately I’m in Maryland and work 50-60 hours a week and quite frankly not the most intelligent guy when it comes to this stuff. I’m just a blue collar hump who is intelligent enough to know us shareholders are getting screwed !! This is unbelievable to me. Government, courts and these greedy bastards - can’t trust any of them. It wouldn’t surprise me if there was some plain white envelopes passed around in an alley somewhere to these power players. Can anyone find out what our recourse is??
Thank you all for your very informative posts. I’m a new user but have been watching this board for a long time. I really have nothing new to add here. I’m an amateur investor and have hardly any knowledge of this wireless/tower industry so I really appreciate your intel on this board. This is a complicated case and my head is spinning due to a lack of gray matter. I held onto all my shares and accumulated as it dropped in share price. I have 2 kids in college so I could really use this payoff for once in my life haha. I think the odds have slowly gotten better as this case has proceeded. What do you more informed posters think here? Are we gonna get something here? How would it work ? Unknown number of ATT shares dropped in our brokerage accounts where our shares were extinguished or cash payout? And how long would it take? Just wondering from a rookie investor - sorry for dumb question but this is taking forever and I have no clue. Thank you all for keeping us dummies somewhat in the loop with your informative posts. Good luck to everyone!!