*** the parties have stipulated that the Settlement confers “substantial benefits” by way of a series of comprehensive corporate governance changes and enhancements, which will benefit the Company and its shareholders both now and well into the future including,
inter alia corporate governance reforms designed to: (a) strengthen Advanced Battery’s internal controls and accounting and reporting procedures; (b) enhance the independence and accountability of the Company’s board of directors; and (c) provide employees with a voice by
setting up a toll free voice mail box for anonymous complaints or comments. ***
From my my chair it appears matters are being settled in an amicable manner. This poses an interesting question of whether agreement outside of the courtroom is also in play. I feel investors are not getting the total picture. Perhaps an agreement that provides stability and offers a solid growth platform. In return no future action by the many players in this marathon bear raid and recovery effort. Very interesting case and settlement activity.
The N.Y. Court system is all but done dealing with this overly drawn out matter. It's good to see common ground has been attained. The Board of Directors at ABAT must continue the slow and steady rollout of news and updates. If the recent PACER update had been released a few days earlier share price could have easily rushed from $.50 to $.70 or higher. Have a great weekend.
=The N.Y. Court system is all but done dealing with this overly drawn out matter.
Another liar when he knows this is not true. Look up his past posting, people... he said last year it was wrapping up and would be all done by August. That was 15 months ago and he is STILL lying about this when he knows for a fact all the steps that must still be taken.
Send out opt-out notices.
Deal with objections.
Deal with those who opt-out and may initiate new cases.
Get to a Fairness Hearing.
Convince judge to allow ABAT to claim no responsibility.
Schedule date for Final Order.
This is many, many months away from being done and is not even a sure thing the judge allows it to go through. EXACT same things he has been saying for a year and a half. what a CONMAN!