Completely false and misleading. Note holders were converting a toxic note and dumping into the market. They decided to dump in the middle of a dividend distribution. COR (the clearing house) didn't warn them about the special dividend conditions.
The company was not obligated to have those shares under a new CUISP. Note didn't specify the conditions.
DTC modified the dividend date according to the rules of the exchange and charged COR for the balance of the excess shares.
DTC enforced the rules but any disagreement in the conditions had to be resolved by a court. It went to court and judge found COR and the noteholders at fault. Went to appeals and same thing. See the sticky with the court ruling.
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