Saturday, October 23, 2021 3:09:12 PM
The lawsuit did not require any claimant to still own shares of the company, nor did it require the claimants to do anything with shares they still owned in order to receive a payout. What was required was documentation that shares were purchased previously, either before or during the period the allegedly false prospectus might have influenced an investment decision.
The parties settled, the judge approved that settlement long ago. The individual defendants and the insurer for BioAmber have paid the settlement to the company responsible for distributing to the claimants.
What that means is there's nothing waiting on the settlement payout, nobody has to surrender shares still owned, nothing. It is just another thing to cling to, kick the reality can down the road, but after the judge issues that last piece of paper, nothing will continue to happen to/for this dead, empty company.
Here's the chart from the settlement showing the proposed payouts based on the purchase and "hold through" period:
The parties settled, the judge approved that settlement long ago. The individual defendants and the insurer for BioAmber have paid the settlement to the company responsible for distributing to the claimants.
What that means is there's nothing waiting on the settlement payout, nobody has to surrender shares still owned, nothing. It is just another thing to cling to, kick the reality can down the road, but after the judge issues that last piece of paper, nothing will continue to happen to/for this dead, empty company.
Here's the chart from the settlement showing the proposed payouts based on the purchase and "hold through" period:
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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