Friday, September 30, 2011 11:57:16 AM
It's because they were negotiating from a position of weakness. On July 14th JBI received the Wells notice. On July 14th JBI bent over and gave away the farm and also signed the letter agreement with RockTenn.
Coincidence, I think not.
On July 14, 2011, the Securities and Exchange Commission's (“SEC”) Division of Enforcement issued a "Wells Notice" to the Company indicating that the staff intended to recommend that the SEC file a civil lawsuit alleging that the Company violated certain provisions of the federal securities laws.
http://www.sec.gov/Archives/edgar/data/1381105/000121390011004691/f10q0611_jbi.htm
nothing in this Agreement is intended to supersede, limit or in any way modify the indemnity in the Letter Agreement between the Parties dated July 14, 2011
http://www.sec.gov/Archives/edgar/data/1381105/000121390011004040/f8k072911ex10i_jbi.htm
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