Make no mistake about it; the entire future of LINE/LNCO teeters on the outcome of the SEC Investigation. The recent declines/rises in the pps for these shares, the lawsuits initiated, analyst upgrades/downgrades, the hopes/dreams/fears of LINE/LNCO shareholders mean nothing at all.
If the SEC finds in favor of LINE/LNCO and it's accounting/payout procedures, then LINE/LINCO shares will soar.
If the SEC finds egregious errors in LINE/LNCO's accounting payout procedures, then LINE/LNCO will be destroyed, just as ENRON was. There will be no BRY buyout, lawsuits will drive LINE/LNCO to it's knees, bankruptcy will be declared.
I don't know which way this thing will turn, EVERYTHING depends on the SEC investigation. The big question is, "Has the management of LINE/LNCO been honest/competent/straightforward? The SEC will ask/answer that question.
informal investigation big difference from formal investigation and this is not a formal we probably wont hear from the sec on a informal one so we need to wait for linn to announce the sec inquiry results
you should add informal after sec to your title if your long. jmo
The company has a lot more assets than liabilities, and there is cashflow from those assets. I think it's a witch hunt probably promoted either by a disgruntled buy out board member or someone from one of the capital companies that didn't get their fingers into the deal. JMO.
My guess is nothing will happen. It was just an inquiry after all, not an investigation. Soon the noises will die down, and everyone will go back quietly collecting their dividends, as if nothing ever happened.
Wrong, LNCO will not go bankrupt if the SEC finds anything. They are looking at their non-GAAP figures, yes the merger won't go through and yes the distribution might be cut but it isn't life or death.