J.G. Wentworth Company (fka JGWEQ)

[ShortsFail]

Some more DD to add to the mix. Some might be put off by the negative news, but as a contrarian investor

I'm looking to see if these issues are behind them or still pending. If they are still pending, can they get out from underneath them or will they take a hit and how big?

That's my next rabbit hole to jump into. I still have to get into the lawsuits that are older issues.

Enjoy!


JGWE
https://en.wikipedia.org/wiki/J.G._Wentworth

Feb 2017
Consumer finance company J.G. Wentworth hires debt adviser -sources
http://www.reuters.com/article/jg-wentworth-debt/consumer-finance-company-j-g-wentworth-hires-debt-adviser-sources-idUSL1N1G21JM

April 2017
J.G. Wentworth adds three to management team, CFO to exit
https://www.housingwire.com/articles/39889-jg-wentworth-adds-three-to-management-team-cfo-to-exit

June 2017
The J.G. Wentworth Company :® Announces $110.8 Million Structured Settlement, Lottery and Annuity Payments Fixed Rate Asset Sale

http://www.4-traders.com/JG-WENTWORTH-CO-18177637/news/JG-Wentworth-JGW-Announced-Devastating-Financial-Results-Casting-Doubts-On-Its-Continuing-Ability-22356891/


https://www.rslfunding.com/jgw/

4/14/2017 | J.G. Wentworth Executive Vice President and Chief Financial Officer Roger Gasper jumped ship in April, 2017.

4/12/2017 | J.G. Wentworth is negotiating for a severe restructuring, and another bankruptcy may be in the offering. $450 million in Wentworth debt can’t be paid.

1/12/2017 | J.G. Wentworth is being sued for misrepresenting their financials – not being as stable as they claimed to be.

6/17/2016 | They are a penny stock and have been delisted by the stock exchange.

5/13/2016 | They are losing money.

5/19/2009 | They filed for bankruptcy in the recent past, emerging from bankruptcy in 2009.

5/17/2012 | They abandoned hundreds of transactions, leaving customers in a lurch when they last filed for bankruptcy a few years ago.

6/3/2016 | Their continued financial problems have led to an end of a $100 million credit arrangement with Credit Suisse.

6/14/2016 | Their staff has been fired, and the former employees don’t have good things to say about the company.

6/3/2016 | Their $100 million line of credit has been terminated.

2/11/2016 | They are being investigated by the Consumer Financial Protection Bureau.

5/10/2016 | They have lost over $38 million this year and continues to spend $4 million per month on advertising, which their customers ultimately pay for.