travel, we didnt know we had a winner before the conversion. all the pre holders were hopeing when they sighned the release that they were doing right. no one really knew what the outcome would be.
What are YOU smoking??? NO SHAREHOLDERS "knew we had a winner before the wmih conversion" as usually equity is cancelled in most BK cases. It was almost sheer happenstance that equity was saved when the Judge allowed Nate the Great to present his evidence of insider trading to the court.
Furthermore, all shareholders were given the same choice as to whether to sell or hold before conversion... those whom thought the process was too risky sold, those whom agreed to assume the high risk held... There is no recourse for 'pre" shareholders that sold to mitigate their risk... no matter how much money they lost. Simply put - this is how the game works. imo
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