WON WESTWOOD ONE ,I'm not sure why investors didn't see the value in the retraction made by Trans Media group and Pompono as it is a signal that the law suit filed against them in July has a settlement agreement done that just needs to be press released by Westwood.
Westwood claimed in their suit filed in July that a press release dated April 9th and released by Trans Media on behalf of Pompono ,stated there was cause to continue a law suit against Westwood by Pompono. The fact is there was not any cause found and most of the claims were dismissed.This press release caused Westwoods stock to decline.
Now it is clear there is a deal because Pompono and Trans Media would not have restated the April 9th press release on Oct.23rd 2008 if the law suit filed by Westwood in July had not reached a conclusion. I expect the facts of this agreement to be made public by Monday as they have I believe 4 days to file material information to share holders and Trans Media and Pompono have already on the 23rd admitted they lied on the April 9th press release.
It will be interesting to see the details of the agreement and how much Pompono and Trans Media will have to pay.Now the stock price the last few trading days has been 3 times the averge volume and the price has declined, something that always happens just before a massive up swing.
If your not already in, I suggest putting this on watch next week as it will be a good play for the next month.
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