What follows is my complete opinion and speculation - Vulcan, you have been a solid long here and of all people, I think you have every reason to share your thoughts and opinions. Here is my two cents worth - in my view, there was a very good reason for them to keep things close to the vest until recently. Negotiations during a settlement can be influenced by statements made by either party. Now that those talks have (from my understanding) irrevocably collapsed, I think this is the point where we move forward. This is also the point where I personally feel more free to contact the company and ask for more information.
Up until now, CCGI has been able to control things to some degree. As long as it looked like they were playing nice and earnestly participating in the process, then Judge Bucklo had every reason to keep things moving towards settlement. Now that CCGI has showed their true colors, I think Bucklo will start to drop the hammer. Judges are many things in this world, but they are not clueless and they know when they have been played. I am still trying to find out if the original court date of the 10th will become a trial date. If not, then it should be set in the very near future.
We all know what is likely to happen with a trial here. Many of the issues have already been decided and this then turns into a damages hearing. It should be very swift since the special magistrate has already reviewed the facts (and also because CCGI cannot say they have not had time to prepare - four years is plenty). If the ruling then results in an expected judgment, it will still be a huge win for the stock. Why, because it lifts the lawsuit burden helping to hold it down.
Many of you worry about collection and appeal in a case like this. While it is true that CCGI can file bankruptcy to avoid paying, this destroys their company and their stock price (currently at .20 cents per). If they appeal, they often have to file a supersedeas bond covering the cost of the judgment - with interest. That is to avoid the scam appeals that sometimes happen with unethical companies. So while I understand your frustration and disgust with the process, CCGI's ability to control things has greatly diminished and I think they just made the biggest mistake of their corporate lives. Go JNSH!
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