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4 KIDS ENTERTAINMENT Message Board

  • happytradersometimes happytradersometimes Jul 1, 2013 11:35 AM Flag

    Has their Lehman claim ever been declared a valid claim?

    Their claim was not a simple they owe us money and a longtime ago it was mentioned that their claim would still need to be validated.

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    • Thanks for the responses. It looks like the current stock price is a good risk given their Lehman claim but you probably couldn't buy many shares in the $.40s.

    • Someone did something wrong, as the three low level brokers had to pay 489K to 4Kids after settling their arbitration dispute. That wasn't even the big claim, and they were willing to settle. Read the original suit, as it lists the facts. I think Wmish has it some site he has. If you go to the Trustee site that lists the Docket like 4Kids used to, you can Google 4kids to see what shows up in the text of court proceedings. There is nothing suggesting a dispute of any kind, as the Trustee (Giddens) would likely have objected at some point if it was not valid at all.

      Three brokers paid close to 500K, so that tells you something about the facts of the case. And those are small fry guys.

    • The Company's latest 10-Q includes the following statement:

      "The Company’s claim against Lehman Brothers, Inc. is still pending and there has been no determination made as to the validity or allowed amount of the claim."

      • 1 Reply to nondescript0
      • Trustee has never disputed the claim. Brokers decided to settle for 489K instead of risking a higher payout in arbitration. So, the facts would suggest a legit claim.

        4885 01/31/2012
        Notice of Appearance filed by Kiah D. Beverly-Graham on behalf of 4Kids Entertainment Inc.. (Beverly-Graham, Kiah)

        Case: SIPC vs. Lehman Brothers, Inc.

        Related: 4

        Document
        4802 12/16/2011
        Notice of Appearance filed by Eric R. Levine on behalf of 4Kids Entertainment Inc.. (Levine, Eric)

        Case: SIPC vs. Lehman Brothers, Inc.

        Related: 4

        Document
        422 12/12/2008
        Certificate of Service of Notice of Appearance and Request to Serve Papers filed by Ian N. Levy on behalf of 4Kids Entertainment Inc.. (Levy, Ian)

        Case: SIPC vs. Lehman Brothers, Inc.

        Related: none

        Document
        412 12/10/2008
        Notice of Appearance and Request to Serve Papers filed by Ian N. Levy on behalf of 4Kids Entertainment Inc.. (Levy, Ian)

        Case: SIPC vs. Lehman Brothers, Inc.

        Related: none

        Doc

 
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