Hope none of you got stuck holding any shares. Bankruptcy sucks for the shareholder. At least they PR'd to you that your shares were gonna get cancelled back on May 12 so hopefully you all got out. No idea who was buying today. Just kinda been following this one because of how crazy it's traded since the company announced the shares would be cancelled.
Item 5.01 Changes in Control of Registrant
Immediately prior to the Effective Date, a majority of the Company’s issued and outstanding common stock was owned by MAXXAM Inc. and one of its wholly owned subsidiaries. Pursuant to the Plan, ALL shares of the Company’s common stock issued and outstanding immediately prior to the Effective Date were cancelled without consideration., Pursuant to the Plan, on the Effective Date the Company issued 20.0 million shares of Common Stock for distribution in accordance with the terms of the Plan. After giving effect to sale transactions effected prior to the Effective Date in accordance with procedures approved by the Bankruptcy Court, on the Effective Date a trust that provides benefits for certain eligible retirees of KACC represented by the United Steelworkers of America, AFL-CIO, CLC, the International Union, United Automobile, Aerospace and Agricultural
I am not a broker and profess to know nothing about trading stocks. Do your own DD. Buy, don't buy...sell, or don't sell at your own risk.
