Wet Seal Inc.(fka WTSLQ)

[1manband]

That is a good example that dealing with bankrupt companies is massively risky regardless of what people think the circumstances are. In Wet Seal's case, they warned over and over in their SEC filings the stock was going to be cancelled without payment to common shareholders, and even gave the specific date (December 31st). There was absolutely no reason why any common shareholder should have been holding anywhere near that date.