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  • hot567654 hot567654 Jan 8, 2013 12:49 PM Flag

    The reason LNET will never go to zero:

    It may get delisted off the Nasdaq, but I believe LNET common stock will survive under a changed name on the penny stock market (OTC, Pinks) because the bankruptcy court judge will not allow the LNET shareholders to suffer permanent losses with no chance of recovery. Colony will be forced to compromise and open up some common stock opportunity to the public. The shareholders of LodgeNet deserve a chance to recover the devastating losses they have faced with the rapidly declining share price. That is why the price is starting to recover at these levels. Don't believe the hype of all the recent SEC releases! Everything still needs to be voted on and passed through the chapter 11 court judge. Then we will see what is really going to happen.

    Sentiment: Hold

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • You are deluding yourself. Happens all the time...United Airlines, Kmart and a zillion others. Common shareholders get ZIPPO. When a company files Chapter 11 the court's responsibilities are to the creditors first and the shareholders are at the back of the line. Unless and until ALL of the various classes of creditors can be made 100% whole there is nothing allowed for the shareholders. They have said so in their filing in this case.

      There ARE instances where common shareholders DO wind up with something, but those are usually cases where there is valuable intellectual property that might be sold such that the proceeds are greater than what is owed....or where the Chapter 11 filing takes place to work out massive litigation (like Asbestos etc.)

      In this case, when the judge bangs his gavel in 45 days or so, the common stock will cease to exist. PERIOD

      P.S. They are wiping out the Preferred also...and all of the Preferred would have to be made whole before the common would be allowed to see one penny. Turn off the light and close the door on your way out.

    • I will assume you own this stock much higher and want to get out of it. So encouraging buyers with a wonderful dream is the tactic. This stock is done!

      Sentiment: Strong Sell

      • 1 Reply to dyoder1122
      • Who knows what will happen with this stock, but it looks to me like there is nowhere to go but up. No good judge will allow the shareholders of this stock to just loose everything permanently. Colony needs to not be so selfish and give the common stock holders a chance to recover their losses. It's the fair, moral thing to do.

        Sentiment: Hold

    • Many optimistic but I am resigned tonight.

      My broker does not allow me to trade on the OTC market so I have to sell before closing Friday.

      Good luck to you

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