Thats what they told me about American Airlines stock when I bought it at 3.60 a share and so I sold at 6.00 and made a good return... right before it went to nearly 50.00. Meanwhile SOGCQ continues to rise.
But in this case its the bondholders (is it not?) that caused them to go to bankruptcy because of the cause of a buyout they could ask for a buyout but they didn't buyout they took 49.9% and changed name to reflect the new partnership of the previous private Sabine Oil with the debt ridden public company Forest Oil.
Again the SEC should send Sabine officials to jail (or the Bankruptcy Judge) if they do away with common shares as they've know from the get-go that Forest had too much debt and even afterwards in the press release kept telling us they were looking out for shareholders interests. They can and did make the bond payments. It was the BS pay me now greed that (lawyers that told them they could - shit maybe the lawyers should go to jail) got Sabine into forced bankruptcy to avoid troubles with bond group.
The fact that they hired a firm the specializes in bankruptcy and then told us they were looking out for our interests proves they should be charged with securities fraud if they do away with commons....
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