I see this thing here, with the motion to file an involuntary reorg plan.
I say to myself; "That could be bad". And I think also, "What are the chances that this could happen?"
Does anybody know this Judge Fitzgerald? Is this something she would consider, especially in light of Judge Conti's status conference to be held the next day in Pittsburg?
I guess I see the stock coasting back down, and I am thinking I should probably lower my exposure awaiting the outcome of this. The creditors are asking for all of it, and I know that's not right, on the other hand, the judge could just say "okay", and go golfing, without a second thought about it. Leave us with nothing. On the other hand, I've got a four bagger already . . . could just split with the cash and watch it from the sidlines.
I'm not a lawyer but it sounds like they want to force USG's hand so they set up a trust so that the lawyers can get their pound of flesh. A legislative solution by Congress leaves them without recompense.
I agree. I believe this stock is trading with one eye on options expiry, in absence of direct news. I wonder if any of the options traders here have a price target in relationship to strike price for Friday's close?