Replies to post #121651 on Mr Cooper Group Inc fka COOP

[sometimes_right]

Or be able to sell when PPS trades much higher... why assume low price dump at a point when crucial decisions could take this stock price much higher? After all, if an insider was going to sell their stock for peanuts they had over a year to do so, yet chose not too. Remember, an insider must file to get their stock unrestricted to trade either way ... at a lower OR higher price...

AND I believe PPS is going higher (why was trading for DIMEQ possibly halted Friday)... no matter how much you try to convince otherwise!

[jackie2wamoongleason]

all of the neg's about this stock w/ there twisting talent are only here for a reason ,and us longs know the reason...wamoney

[linda1]

I know very little about the rules regarding restricted stocks.


Anyone else with more knowledge wish to comment about Johnny's post?

[linda1]

I have noticed that the dates on the following entries were in June 2009 and is that not about the time when Judge Walrath stated that she could rule on summary judgement at any time.


Maybe the restricted stock holders were anticipating a significant rise in the value of WMI stock if WMI should win the summary judgement and they wanted the option of being able to sell some.


Do you have much later entries than the following?





06/10/09


REVIEW AND RESPOND TO EMAILS FROM SECURITY HOLDERS AND REPRESENTATIVES RE: REMOVAL OF RESTRICTIVE LEGEND FROM STOCK AND RELATED ISSUES.


06/26/09


REVIEW, CONSIDER, AND RESPOND TO E-MAILS RELATING TO SECURITIES ISSUES, INCLUDING ISSUES RELATING TO SAVINGS PLAN, S-8s AND REMOVAL OF RESTRICTIVE LEGEND.




"Restricted" Securities:


Removing the Restrictive Legend


"Restricted" securities are securities acquired in an unregistered, private sale from an issuer or from an affiliate of the issuer. They typically bear a legend clearly stating that you may not resell them in the public marketplace unless the sale is exempt from the SEC’s registration requirements.

Rule 144 under the Securities Act of 1933 provides the most commonly used exemption for holders of restricted securities. To take advantage of this rule, you must meet several conditions, including a one-year holding period.

Even if you’ve met all the conditions of Rule 144, you still cannot sell your restricted securities to the public until you’ve had the legend removed from the certificate. Only a transfer agent can remove a restrictive legend. But the transfer agent won’t remove the legend unless the issuer consents—usually in the form of an opinion letter from the issuer’s counsel to the transfer agent.

If you want to remove the restrictive legend, you should contact the company that issued the securities—or the transfer agent for the company’s securities—to ask about the procedures for removing a legend. If you have a broker, you may want to ask your broker to help you.

If a dispute arises about whether a restricted legend can be removed, the SEC will not normally intervene. The removal of a legend is a matter solely in the discretion of the issuer. State law, not federal law, covers disputes about the removal of legends.

If you are considering acquiring restricted securities, it would be wise for you to consult an attorney who specializes in securities law. To learn more about the conditions you would have to meet to publicly sell your restricted securities, read our overview, Rule 144: Selling Restricted and Control Securities. You can also read our publications on the rule and Form 144, which you may need to file with the SEC and others if you sell restricted securities.

http://www.sec.gov/answers/restric.htm