The thing is that the gov. collects the fine,not the shareholders that lost their money,what a scam.
When Tpg started their actions to get rid of Ward over a yr. ago the pps was over $7 when proxy votes were sent out.Looking back that was the right time to sell,but most investor including myself thought why sell at $7 when the company is worth over $10 the price that most people in the know placed on Sd value.Now more than a yr later the pps is in the mid $6 range with record oil prices and a big jump in ng prices,with SD drilling their best areas.Big funds got on board saying Sd assets were worth way more than the pps of the stock,the only thing they forgot to tell us was that during this period they were the ones who shorted SD at the $7 pps range down to the $4 range.They make their money both ways because they control the pps because of all the stock they own.The small shareholders are not privy to the planned actions of these mega funds,so we have no idea when to sell or buy.Since tpg takeover Ward received over 90 mill. with his golden parachute instead of being fired with cause,in Oaklahoma if you have the right lawers you can get away with anything.Paying him 90 million tanked the pps unless you knew ahead of time & shorted the stock like the people who knew this info did.Then they deceided to sell the gulf at fire sale prices,that further dropped the pps.Sd is being operated as lean as it could be and they still can't make money because of their high debt and big decline rates.The only way out is if oil &ng prices go up enough for them to be profitable or some company with alot of cash takes them over at around $8.I sold out my shares at break even and bought Hk at $3.85 and sleep alot better now.If you still are holding Sd stock I would advise selling it because the downside sure outways the upside. With all the funds holding this ,if anything goes wrong look out below.
The DOJ case against Sinovel was a ruse to get Amsc to open the books so they could go after the people who used the inside info to profit,they wont get a dime from Sinovel.McGahn should get the Sinovel ceo job,he has done more for Sinovel than Amsc.
This was another 20 mill thrown to the wind by a clueless management team,surprised shareholders did'nt file a lawsuit on that bad move,what were they expecting?
Cerp. spent over 20 million on r&d and production &it goes for 2.6 mill.,white collar crime pays big time on wall street.
When they bail out,look out below,shorts will rule until the day sd is sold,if they can find a sucker.
What ever happened to it,maybe they will put Ward on American Greed,at least Madoff is in prison,Ward screwed shareholders and instead of him being sewed and forced to give money back to shareholders they gave him another 90 million.Even with the highest oil &ng prices in yrs.,a good management team and big investors like Cooperman,Tpg& others pushing sd, this pos has trouble staying at $7,Oaklahoma is a great state to run scams if your in with the right people,when you get caught instead of jail they give you more money.
When a company knows someone with deep pockets wants to buy it they shoot for the moon with the price,so the best way for a big company to buy it is to send someone else who's unknown with a low bid offer and then buy it at a steep discount.
Why would anyone want this company,their main drug did'nt meet its mark,thats why it went from $30 to $5.What I dont understand is how it worked so well in pre trials, but failed to work in later testing,did they lower the dose or did someone fudge the results so they could steal shares and make a killing later on?
Announce you loose a contract,pps tanks,you buy your own stock at firesale prices and then announce you sign a new contract at better rates and the pps rises.Did management make a deal with Goldman and bail them out with their short position ? Has Goldman taught them how to manipulate their stock? The only way they announced they had pulled the contract is if they had another contract getting ready to be signed.A good management team,knowing that they were having problem with a country would not pull out unless they had a better deal lined up,why else did they walk away instead of negotiating the deal? Something is very fishy about the timing of the news and the reaction to it,how does hero loose 150 million in market cap over a lost contract,maybe if the rig sunk I would buy it.How does the SEC let this BS go on?
When they say the rig is going to the north sea at a better price the pps will go up .25,meanwhile when they said they canceled the contract it went down over.80,Goldman manipulates the market anyway they want it to go,what a suckers game.
If they knew in May why did they wait a month esp. on a option expiration day to give the news as to why they moved the Triump 267 to Gabon without giving a reason why?Maybe people in the know dumped their shares after the Maersk deal thats why it traded flat because they dumped after the pump.
What a fixed market,timing of news and contents of news suspect.Why did they anounce at option expiration,maybe to bail out short MM's and why did we not hear about this trouble before,I think this contract will be reinstated because the problems are easy to work out,the news is just market manipulation,the Sec. should be looking at this instead of bothering Martha Stewart to get headlines.