APC filed their 10-Q after hours.They stated that settlement in Tronox case was unlikely, reversed their $550MM settlement provision, stated that a court ordered award would likely be in the range of $0 to $1.4BB dollars.Keeps headline risk in play probably through October. A award anywhere in the range would be a huge catalyst to the stock price.Cannot be discounted that this is a ploy to ratchet up the pressure on the Tronox trust to settle mid-trial as otherwise the trust risks receiving the low end of the settlement range - $0.
thanks for the update. my view is it is going to cost >$3B. Then again, with the right judge you have tronox owing APC money!