Paychest Inc (PYCT)

[MFridge]

You're not getting it. If PYCT would have had adequate counsel then they would not have received the default judgment in the first place.

If you have a corporate attorney and he calls one day and says "by the way, you got a $4,000,000 default judgment against you because I did absolutely nothing about it" then it's time to get a new attorney.

And if the lawsuit was bogus and he didn't get it tossed instead of allowing a $4,000,000 judgment to be entered against them then once again, PYCT needs a new attorney.

So either they had none, or they had an exceptionally bad one.