Somehow, I knew this Lawsuit would fail. I didn’t want to post that because it just might have gone over. I would have been surprised but satisfied.
But I've always had a bad feeling about this.
AND upon exiting from Bankruptcy, their stock should not have been able to trade if it was being cancelled or to become unlisted for trading.
Their company took in MONEY after their emergence from Bankruptcy for shares that should not have been available for trading.
Investors purchased their shares “AFTER their emergence from Bankruptcy” as the results of a positive persuasive press release that was later found to be Misleading and Negligently written.
The fact that they were found at fault beyond a shadow of doubt, involves them to have caused reasonable damages.
If the pending lawsuit is being nullified, the company should on the grounds of their play in damages, refund the monies of all shares purchased after the bankruptcy through to the stock delisting.
We can point fingers all we want as to why did those shareholders purchased the stock.
But as with stocks, NEWS is the leading and driving factor behind most purchases of shares in a company. This company’s news incited the purchase. Had the NEWS been honest and complete in its entirety, I guarantee the purchases of shares from this company would not have happened. I refuse to believe the insiders were not thinking the same.
I think the insiders of this company knew damn well that were doing when they released their PR the way they did.
Had they’d given complete disclosure, there would have been massive sell-offs which would have negatively affected their “Close-Out” bottom line.
Either they refund those shares and minimize the monies the IRS will be refunding when those losses are claimed next year.
Or do nothing and increase to the monies the IRS will be refunding when those losses are claimed next year.
Doesn’t matter either way the shareholders who’ve incurred losses here will get either all or most of these losses back between this company and/or the IRS.
And I’m sure the lesson was well learned.
Maintaining TRUTHS requires 'little to no effort' than Maintaining LIES.
