Dime Bancorp Inc (fka DIMEQ)

[db7]

from the taipan article (which has a summary of the case)


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To deliver value to shareholders by monetizing its off-balance-sheet litigation asset, DME spun off its litigation against the government through the vehicle of litigation tracking warrants. The warrants (DIMEZ:OTC) entitle the holder to receive DME shares equal to 85% of the net after-tax value of any recovered damages.

DME is claiming damages under three non-overlapping damage theories: reliance, restitution, and expectancy. Reliance is “the contracting party’s interest in being reimbursed for loss caused by reliance on the contract by being put in as good a position as he would have had if the contract not been made.” Restitution is “the plaintiff’s interest in having restored to him any benefit that he has conferred on the other party.” Expectancy is “the interest in having the benefit of his bargain by being put in as good a position as he would have been had the contract been performed.”

DME is claiming US$512 million under the reliance theory, US$740 million under the restitution theory, and US$980 million under the expectancy theory.

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Your findings are correct in that we are not going for reliance or restitution.. WE ARE however going for expectancy of $969mil