It's NOT a freaking "dividend". This explanation by LR seems very clear and easy to understand:
1. All current shareholders will not participate. 2. In order to participate, claimants will have to have first lost money on sales of shares. 3. Some portion of the participants are certain to be FORMER shareholders.
There is no known definition by which that is a "DIVVY".
This should be repeatedly cited, over and over, until John Bordynuik drops his insultingly stupid spin of calling this damaging court settlement a "divvy".
"Does the investor have to have sold the shares already to get this dividend?" That would be easy to answer if a final settlement had been reached and a judgment entered by the court. If those things had already happened then the answer would clearly be "yes". The reason I hesitate to say that at this point is because, now that a Stipulation and potential Settlement have been made public, the people that are entitled to participate in the settlement fund based on prior sales could argue that "you" sold your shares as a result of knowing the proposed terms of the settlement. An advantage that they didn't have.
"Those that are still holding don't receive the dividend?" Of this I am certain: If you bought shares during the class period and still hold those shares at the time the settlement is finalized (I believe the Stipulation refers to this as the Effective Date), you would not be able to collect on a claim, even if those shares were worth less at that point than what you paid for them.
I wish the answer to "If I bought shares during the class period and am still holding them at a loss, should I sell them now to take advantage of the settlement?" was more obvious. A lawyer could definitely give a precise answer based on the law. I think that the common sense answer is that, unless you're holding a HUGE stack of shares, any recovery from a claim is likely to be small...and not received until you have probably forgotten that it was coming....so your decision to hold or sell the shares should probably rest on your expectations for the company, just as it would before you became aware of the potential settlement.
At some point in the relatively distant future, holders of JBI shares during the claim period SHOULD receive a claim form in the mail.....assuming a settlement is actually reached. That form will ask you to list your shares purchased, price paid and, if sold, date of sale and the price you sold them at.
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