Replies to post #3579 on Dime Bancorp Inc (fka DIMEQ)

[jmbell42]

Speigs,

This is a good question and one that merits consideration. I presume that you have to be a holder of record to participate in any payout of stock.

However, as LTWs, we are a class adversary proceeding, meaning that all holders of LTWs are entitled to benefit materially from ownership of the shares.

My guess is that the Debtors will try to say something to the effect of "If you aren't in already, then you are not eligible."

However, I think that our class counsel will be infuriated at this...

Rosen has a tendency to use the "Scorched Earth" tactical approach to litigation... dragging things out and trying to exhaust the adversaries. Steinberg is a much higher caliber counsel and has routinely handed Rosen his proverbial posterior.

We'll see how this plays out in the end.

In short, my honest opinion is that I would put nothing past the Debtor's attorney to try and shaft LTW holders.

Best,

Jared

[MrchntDeth]

If you buy them today, tomorrow, or whenever, you will NOT be eligible to vote those shares.

The Record Date for voting was something like March 16, 2011 (meaning you had to buy them on or before March 13, 2011).

That said, if you buy DIMEQs tomorrow, you are entitled to the same payout as any other DIMEQ holders would be.

Right now, that number is in the $2.50 to $3.00 range, depending on who you ask, and how the numbers are crunched. Lots more than the 75 cents they're trading for right now.

But remember, that if judge mary mary, quite contrary is too stupid to figure out Arthur Steinberg's fantastic legal analysis and arguments, the payout is ZERO (assuming of course, that WAMU survives any appeals that we file). Rodent is far from stealing this money.

If I wasn't already loaded to the gills in DIMEQs, I might be tempted to buy more. Hell, my wife doubled her position last week (2,500 up to 5,000), but only the first 2,500 are eligible to vote.

She'll be voting to take new common stock (and lock up the 2,500 DIMEQs), but the new 2,500 DIMEQs will receive cash once we win the case and get bumped up to Class 12.

I hope that helps. Please let me know me know if I can answer any other questions or clarify anything I've said.

David