Did you really call your uncle or did you simply say "uncle"?
"he says company made too many mistakes causing problems for investors on dates"
Your uncle doesn't know what he's talking about. He must be one of the posters on this board, huh?
"and can be held lible for mistakes if people lose money. Is this true?"
No, it's not true. The company didn't make any mistakes. Everything they said in the declaration is true.
"Why were people misled"
No one was mislead. The confusion was a product of investor ignorance and nothing else. It's not the responsibility of the company to educate investors on stock exchange rules.
Yeah, losing $1.75 off a stock price seems petty to me too. I usually aim to lose a lot more than that. And I'm remarkably successful.
You found out on a bulletin board that you have to buy the stock? You mean like a bulletin board outside a supermarket with used cars & playground equipment for sale? I'm going to the supermarket this weekend. Maybe I should check out the bulletin board for stock tips. Nobody told me I have to, but I think I will. Seems like the smart thing to do.
If there's a FINRA rule that says it can't go below 5, then no, it can't. I don't know of any such rule, but I only know one FINRA rule, and it concerns distributions.
I don't believe you. You figured out how to post on these clumsy Yahoo message boards. You also figured out how to spell "anything." That constitutes a streak. You're on a roll. Don't give up. ...Well, unless the same person who told you that you have to buy the stock tells you to give up. It'd probably be smart to do what he says.
You have to own it? Is it a requirement of the Affordable Care Act? Is the healthcare website down again? I thought they were going to have that fixed by now. What about Pozen? Why don't they announce these things? Are they going to issue another press release?
"the $1.75 is non-taxable in US, would the Cost Basis still be what I paid for it"
Nope. The company says they expect the distribution to be a return of capital (ROC), so for tax purposes you're getting back some of the money you paid for your shares while still keeping the same number of shares. That means your cost is now whatever you paid for the shares minus $1.75.
"so if I sold it I could then declare a loss on my taxes?"
I don't want to discourage you from trying, but if you get caught, don't expect a Christmas card from me while you're breaking rocks with a hammer.
"So it is POZN's legal team that should be reprimanded for not reviewing and Understanding the misleading statements issued."
No, not really. That was pretty much an industry- standard declaration. Their declaration read virtually word-for-word (except the specific dates, of course) the same as 99% of distribution declarations subject to the 25% rule. Yes, it's was misleading, but only through omission. Everything they said is a fact. The fact that the company issued the clarification today is the exception; that is rare. And because it's rare, it's commendable.
The way they did it? They had no choice in how they did it, other than to split up the $1.75 over two or more payments (assuming the stock price didn't move up from where it was on the declaration date), and there isn't a compelling reason to do that. Isn't it obvious now that the company was unaware of the 25% rule? And even if they were aware of it, what's the problem with doing it this way? A few hundred small shareholders may have been confused for a couple weeks, but I don't see that they were done any harm. This is still two business days before what most people thought was going to be the record date, so anyone who planned to sell on or after the ex-date aren't hurt.
And if they want to shed the cash from their balance sheet before the end of the year, they really don't have time to wait for any material announcements that may or may not come when expected.
I just don't see anything peculiar about the distribution or the timing.
"If only we could all be as brilliant as you"
I never once asked anyone to take my word for it. Many times I suggested looking up rule 11140 (b) (2), deferred ex-date and Understanding Dividend Dates. When people who have their own money on the line and are too blockheaded to look out for their own best interests and instead heap garbage on me, they are blockheads. That, along with the dividend date information I posted over and over and over, is a fact. Boo $%#$@! Hoo for the blockheads.
You also declared, with all the bluster and hot air blowhards like you always seem to use, "the 9th will be the "ex"date and NOTHING can and will change that!!! Comprendo?"
According to the company's press release today, which does nothing more than repeat what I've been saying on this board since they announced the distribution, you are a blockhead. Comprendo?
What was that you were saying, by ba_muoi_lam? Oh yes, here it is: "Do you guys do not want to understand or do you can not understand?. Especialy CWN600 who is trapped in his own complicated brain"
Oh, but that's not all you had to say. Uncontent with just one of your feet in your mouth, you also said, "In POZN 's case it is VERY simple. Only the people who are recorded as a holder at the end of the 11th will get the money."
Really? Then somebody better straighten out POZN because they say you're wrong.
I said the ex-date was most likely the 31st, and I explained why, over and over and over. You, impervious to both facts and logic, said, "You are an idiot. The record date is the 11th with the exdate 2 business days before which is the 9th. The last day is to buy to get the payout is the Friday the 6th. Its very simple as the company PR stands as final rule, they release the monies and the PR dates are firm"
The only thing you got right was the record date.
Which one of us is the idiot?
"have to wonder if the prior incorrect posts were intentionally spammed"
Not a chance. There aren't enough readers here to affect the price to any great degree.
"or could they really be that ill-informed"
Yes, they really are THAT stupid. I not only explained how it was going to work, but I gave them search phrases to use to find both the actual 25% rule AND comprehensive explanations on how and why it works the way it does, yet their heads are so big (obviously full of #@&%$!!) that they never even considered the possibility that they were impenetrably ignorant.
Here's one of his gems: "ONly 3 days left to get the huge dividend"
How about this one: "So again, like I always said....the registrated holders of shares at the end of the 11th will get the dividend. YOu can become such an holder when you buy BEFORE the 9th and on the 9th we will see the PPS will go lower"
Here's a real knee-slapper, talking about me: "Some guy here is trying to confuse you guys about the dividend"