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  • therealfacts123 therealfacts123 Apr 26, 2013 3:37 PM Flag

    What's ahead?

    I was surprised that we did not get a bounce after the news came out and in fact there was a dip. When you think about it, it makes sense. First, there are no sellers other than a few (old) longs that were looking for a big settlement. When they dumped, on the news, it just left no buyers until the 'share out'.
    So look for big pop on Monday.

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    • This is a pretty obscure company as well. I don't know if we even got a mention on any of the news feeds.

      Dunno - but happy I managed to reenter over the last few days.

      Sentiment: Buy

      • 1 Reply to fritz_schnabel
      • Fritz;

        Keep in mind also that there remains a handful of ways that this settlement could be derailed, not the least of which is the progress of the derivative lawsuits. I'm not familiar with Blumka, and have no idea what may be going on there. Braun, last time I checked, was in abeyance, probably pending progress in this case. The issues in the two types of actions are different, however, so a settlement here doesn't necessarily mean the other two go away as well.

        Now, having said that, the terms of the settlement here would, I think, give the plaintiffs (or, more to the point, their attorneys) pause as to the probable outcome of those two actions, particularly in the area of recovering damages. If the plaintiffs' objectives in those suits is to compel a particular course of action on ABAT's part, however, and if the plaintiffs have the wherewithal to fund the suits regardless any monetary award, they could conceivably go forward. I'm doubtful, but one can't absolutely rule out the possibility.

        Also, after reading the settlement, I think there's at least an outside chance that the plaintiffs in this suit might try to get a second "bite at the apple" by going after the Auditor one more time. ABAT would obviously be immune from any potential of damages if that transpires, due to the terms of this settlement, but the whole ugly mess concerning the reliability of the accounting could be dredged up again in pursuance of the auditor. Again, I've no idea how likely that is to occur, but wouldn't absolutely rule it out at this juncture.

    • Where can I find the story that you're referring to? Thanks.

    • If you bother to read Jim's explanation of what to expect next, you will see that the final settlement won't happen for at least another 6 months, IF all goes as planned.
      Not to mention, we STILL don't know what has progressed with the company for more than a year.
      But if you are into blindly gambling your money and can wait more than 6 months for a potential payoff, well, we saw the few number of shares being bought by gamblers like that.

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