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trader59

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Re: Real McCoy post# 112535

Sunday, 02/28/2021 1:10:10 PM

Sunday, February 28, 2021 1:10:10 PM

Post# of 145226
The company's insurer was also involved in the settlement. The company was not, since it had been shut down. The liquidation and shut down was cited by the shareholders' lawyer as a reason they were accepting the settlement from the other defendants. IIRC, that lawyer said they "literally had no cash to pay anything" after the liquidation and payout to the secured creditors who actually received a recovery.

I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.

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