The Colonial BancGroup, Inc (fka CBCGQ)

[skidstreet]

Yup. Sounds to me like the company is going along with the SEC recomendation to revoke. Of course I'm no legal wiz and could be wrong but I wouldn't be surprised to get up one morning and find this with no bid. Respondent = the company = CBCGQ right? From the 8 K:

"On the basis of the foregoing, Respondent hereby consents to the entry of an Order by the Commission that:

Pursuant to Section 12(j) of the Exchange Act, registration of each class of Respondent’s securities registered pursuant to Section 12 of the Exchange Act be, and hereby is, revoked.

V.

By submitting this Offer, Respondent hereby acknowledges its waiver of those rights specified in Rules 240(c)(4) (subject to the Commission’s acceptance of the Offer) and (5) [17 C.F.R. §201.240(c)(4) and (5)] of the Commission’s Rules of Practice. Respondent also hereby waives service of the Order"

Be careful guys. My gut says there are better risk/reward plays out there.