crassus: Laura would have no such indication at this point and it is out of her hands. Investors also have no control over any restructuring. After the SEC filing, it is clear a restructuring is unlikely, at best:
YORKVILLE AND ANGELO MISREPRESENTED THE AGE OF YORKVILLE'S CONVERTIBLES
69. From at least July 2008 through 2009, Yorkville, Angelo, and others made false statements to investors and prospective Investors who specifically asked about the age of the investments in the Funds' portfolio. This information was important to investors and prospective investors because as investments of this kind age, the likelihood diminishes that the Funds would receive a positive return on their investment.
70. During a July 22, 2008 conference call with a prospective investor, Angelo represented that 75% of the Funds' portfolio was less than 18 months old and 90% of the portfolio was less than two years old.
71. Similarly, Yorkville's director of investor relations told a prospective investor that of the Funds' investments were less than 18 months old, and that 100% of the Funds' investments were less than 24 months old. [NOTE: NEOMEDIA'S DEBENTURES GO BACK 7 YEARS.]
72. These statements were false. On July 22, 2008, 43% of the investments in the Funds' portfolio were over two years old and on August 25, 2008, 45% were over two years old.
73. Angelo had direct involvement in the purchase of these aged investments. As Yorkville's portfolio manager and Executive Committee chairman, Angelo made each investment decision in the portfolio. Furthermore, Angelo signed documents on the Funds' behalf when the Funds entered into many of these investments.
74. Angelo also reviewed the Funds' monthly positions.
75. Angelo knew or was reckless in not knowing that there were a significant number of investments in the Funds' portfolio that were older than 18 months or two years. Angelo thus knowingly or recklessly misstated the age of the portfolio to investors.
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