Umm, yeah everyone should know what is happening. They are getting cancelled. That is very unlikely to change. That isn't something a company announces to cover their butts and then changes.
Because they are not cancelled yet and where would this supposed cash come from? All the value in the shares currently held will be wiped out, so some group of people are losing $46M (at current market cap). Its a gift to anyone still holding to get out before that happens.
Exchanges halt trading to let news dissipate, this has been pretty well known for a long time so I am sure their opinion is, well you should know already this has no value.
Its a bad outcome but one that has been coming for years really. You only had to look at the income statement and balance sheets. The judge has to approve the plan but at this point the shareholders are not going to factor into any decision at all. There is no scenario whatsoever in which the commons get anything.
Here is the best scenario for shareholders where all three of these happen - the government decides to give $1.5B in cash for the NOLs instead of how they are normally used - they win the lawsuit for $2B - someone dies and bequests $2B to SHLDQ out of the goodness of their heart instead of say cancer research
The commons still end up with nothing because all that combined does not cover the debts. The only possible one of those 3 happening is winning the lawsuit and that won't likely be for the full $2B. The other 2 scenarios are basically zero chance.
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