Order Approving Submission Of Trustees Offer Of Settlement to SEC in Anticipation of a Consent Order in an Administrative Proceeding (3/13/12)
Source: Epiq Systems [Docket 1544]
From the Motion:
De-registration of TMST’s common stock and preferred stock by the Commission means that such stock will no longer be publicly registered and no member of a national securities exchange, broker, or dealer may make use of the mails or any means or instrumentality of interstate commerce to effect any transaction in, or to induce the purchase or sale of, TMST’s common stock or preferred stock. Each equity holder, however, shall continue as a common or preferred stockholder and, if any distribution were ever made to the equity interest holders, they would be entitled (in accordance with and if provided by TMST’s corporate charter and applicable law) to share in any such distribution. Notwithstanding the foregoing, the holders of equity interest rights under the Bankruptcy Code will not be affected by de-registration of TMST’s securities by the Commission.
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