Sunedison Inc (OTCMKTS:SUNEQ) is trading up today but could be suspended at any moment. SUNEQ is raising the needle +100% at the time of writing and if you are not familiar with the company or the just completed bankruptcy case, you might have missed one of the most important stories in valuation in a long time.
Furthermore, SUNEQ represents how shareholders are too often left holding the bag with rules that are not written in their favor. Many SUNEQ investors believe there was a conspiracy to rob them of their investment and there is evidence to support that but the presiding judge in SUNEQ’s case did not think it was substantial or relevant for a bankruptcy proceeding.
Sunedison Inc (OTCMKTS:SUNEQ) will not receive a private equity committee or extra time for shareholders. The recent run is probably covering shorts before share cancellation, but this is still a speculation.