Replies to post #566156 on Mr Cooper Group Inc (COOP)

[cents2ks]

I agree, it bothers the living hell out of me!

[justnormal]

Boris 100+

[Major_Bankz]

Exactly, that JP_M lawyer is chasing the 1%?, its not about the 1%, the intent is to delay. IMO!

[BBANBOB]

Boris

"" Why not years ago?""

I have asked this before and will again, how do you file something years ago when ya only found out about it 3 months ago?????????

"" The groveling for money.""

I guess you are not aware, she had nothing to do with setting this up, it was set up by a poster on the BO MB for her and as I understand it on his own.

[Docsavag]

Boris,

Just to share, from what I understand, this action that is being brought to the court's attention was only discovered fairly recently as it was buried in a filing made about a year after the fact. Only when one of our posters uncovered it did the realization of the potential impact come to light.

Look at it this way... a prior claim of around $72M was made, $24M of which were legal fees. This was shot down by Rosie Odonnell in court and denied. Then mysteriously, in a 10K filed about a year later, it was noted that the underwriter's were somehow given 72K P's (for which in turn we assume they were granted escrows). How was that done, and why was it not presented to the court directly but simply buried in a filing?

A few points to ponder:

Why was this even done in the first place when the claim was initially denied?

If even the attorney fees of $24M were denied, why was the "gift" set at 72K P's?

Assuming money is out there, not from the BK, but held in the MBS's, for every $10B coming back they receive $72M. This is beyond unjust enrichment for a claim that was denied.

Why were they even willing to shut up and go away for 72K P's if they have no value?

Just my understanding but hope this helps...

[Large Green]

Boris, with all due respect, you should have asked more questions and understood how this Stipulation was found, when and the chain reaction of events before condemning a Gifthorse called CSNY/Bopfan.

BBANBOB and others that have responded to you regarding this issue have it correct.

This is a much large screw-job to our Preferred Equity Interests than most realize.

I also understand why some investors are upset with this as the dilution was put into the Preferred Equity Interests class 19 more than likely because this is where the BIG MONEY is located. Yes, the Underwriters should know as this is exactly what they do.

Also, this actually solidifies the 75/25 to the end (my view) or the Underwriters would have placed their claim in Common Equity Interests (class 22) BUT this is not what happened.