The SEC has very strict rules on insider information. Greenlight's issue before Ms. Gogel's appointment was the lack of Board independence and the company's direction. Once they got a voice at the table the issue became moot. While Greenlight is, as I said before, irrelevant now it is likely that once they learned what was happening on the inside due to the absence of public information their hands were tied. Forget Greenlight. They do not matter any more since the DIP lenders control the bankruptcy process.
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