Mr Cooper Group Inc (COOP)

[warcton]

Again, Aurelius throws everyone under the bus:

11. Key to successfully implementing this type of procedure is the heretofore widely understood securities principle that the stale details of unsuccessful negotiations are simply not material. Any other rule would either require disclosure of even the most inchoate negotiations (which would chill principals from making offers in the first place) or require those hearing the offers to remain restricted indefinitely (which would discourage their participation). Applying such a rule retrospectively in these cases would be particularly unfair – and would mean that countless parties that were privy to failed negotiations at various stages of these cases and then traded – ranging from other noteholders to holders of bank bonds, preferred and common stock, and litigation tracking warrants (“LTWs”) – could well be deemed to have traded improperly.
Page 7. http://www.kccllc.net/documents/0812229/0812229110628000000000006.pdf