LANDAMERICA (fka LFGRQ)

[johnny2525]

From what I understand insiders cant sell shares while a company is under bk proceedings. Please correct me if I am wrong. On top of that you have the original longs who are not excited about 10-15-20 cents for there multi dollar shares. If what is being discussed on this board is true and somehow they went to chapter 7, believe me the original longs would hold and and see if there was some kind of deal struck where shareholders would get money for there shares. If you own this a 5 bucks are you really going to care if you get 15cents. No you will wait it out and say my only chance is to see if we can get something out of this deal through the chapter 7. There are only 15 million shares availabe. If another company came to Landamerica and said, LandAmerica we want to buy you for 5 bucks a share and we are going to take on your other debt, I dont think legally Landamerica can say yeah thats a great deal, but dont pay us for our shares, just cancel those, we want the money for ourselves. Again correct me if I am wrong but I believe in a buyout and doesnt include chapter 7,11, whatever, just in a straight up deal, that the shareholder get there shares bought out.