Home > Boards > US Listed > Brokerages/Investment Banks > Luminent Mortgage Capital, Inc. (LUMCQ)

From Yahoo board

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Followed By 70
Posts 5,952
Boards Moderated 4
Alias Born 09/04/08
160x600 placeholder
WIDESPREAD PANIC   Wednesday, 11/19/08 04:22:28 PM
Re: None
Post # of 53 
From Yahoo board


As far as I see, there is no major institutional investors holding this stock. Largest holders are ARCO and LUM management, the rest are retail investors. There is no deadline for us to form a committee and join in, but right now there is no point. Their book value is still negative and there is nothing to go after. If the lawyers for the Sub's prove that the books were cooked, we can find a lawyer and form a committee. The sub's and unsub's are not going to settle for 49% of the new company, in exchange for $300+ million owned to them. They will persue any means possible to recover their money or as much as possible. We shall see soon. If this was a chapter 7 bk, then a committee representing us would be in place right now. In a liquidation process, there might be something left for the common shareholders.

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences