Replies to post #452877 on Mr Cooper Group Inc fka COOP

[sidedraft]

A concern of mine is who had/has access to the information gathered, for which WMIH is out $11 million dollars.
It wouldn't be that far-fetched to wonder is some other entity has used, or will use that information for a M/A of their own.
I mean, part of that $11 million dollars is my money.

[creyno58]

Cause it cost us 11 million dollars with nothing to show and no proof of where it went. Yet someone made 11 million dollars that the shareholders payed for. So who were the actual recipients of that 11 mill. Oh geesh that must have been the mid year bonuses.

[PickStocks]

The point is was there an actual bid for company or was the money spent for other things. When the company does not disclose that information after six months or a year then yes concern that they are actually doing business does come as a concern.

In a standard NDA, there is limited basis when a company can discuss who or what they are bidding on. Just like we found out that WMI had more than one bid.....After the Bid has been awarded it can become public knowledge that WMIH placed a bid and lost...They can name the company but not reveal the confidentiality of the conversations. The only reason they would refuse to do so is because there was no bid and the 11.1 million was money spend foolishly on something else......The question was asked and harsh statement given back by the Board...

Now the Board wants to pay consulting firms and acquire another accounting firm, do we not already have an accounting firm on the payroll?

Something is not right........could be a scam?????



Non-disclosure of discussions

Providers should

Confirm that the NDA contains language clarifying that the fact of discussions between the parties regarding the transaction is confidential, especially if the Provider is a publicly traded company.
If the Provider is the selling company in an auction context, attempt to retain some limited ability to disclose the fact that the Recipient is bidding or, to the extent possible, to disclose the terms of any bid made by Recipient.

Recipients should

Confirm that the NDA contains language clarifying that the discussions between the parties regarding the transaction are confidential, including the identity of the parties and the terms of any bid if the Recipient is the acquiring company.
If the Recipient is the acquiring company and needs financing for the transaction, obtain a carve out allowing information to be disclosed to financiers.


"Confirm that the NDA contains language providing for protection against the Recipient’s solicitation of the Provider’s employees for some amount of time (the typical range is six months to two years; one year is common) as well as against solicitation of former employees recently departed (six months is common)."