If you think that fine print absolves mgmt of all liabilities when their statements are delusional or dishonest to people investing their hard earned money.
People understand why they dropped the div, but any reasonably honest mgmt would have placed just as much emphasis on that possibility as they did on paying one.
We should not have to rely on lawsuits to get justice.
It should be the SEC doing their job.
In any case you should be aware that it takes years for any resolution to these suits.
That's been my experience.
And you would need to show paperwork of your share purchases during the time periods in question, to receive compensation.
So print or record the info now and save it.
It's a pain in the butt to get maybe .05 on the dollar.
Lawyers get the big reward.
Grow up people.
Everyone makes mistakes.
You make your own decisions and if you don't realise that no one has a crystal ball then you are a fool.
There is no need to bore everyone on this board with these childish attacks.
** SEADRILL LTD, Monday close $11.57, +3.72 pct premarket
The Norway-based driller's stock rose following a share purchase by chairman & top owner, billionaire investor John Fredriksen, who raised his stake to 24.15 percent on Tuesday, buying 1.3 million more shares at $11.68 per share, a day after his investment vehicle Hemen Holding bought 2.7 million shares on Monday.
Australian scientists said Monday they had made a breakthrough in increasing the efficiency of solar panels, which they hope could eventually lead to cheaper sources of renewable energy.
In what the University of New South Wales described as a world first, the researchers were able to convert more than 40 percent of sunlight hitting the panels into electricity.
"This is the highest efficiency ever reported for sunlight conversion into electricity," UNSW Professor Martin Green said in a statement.
"We used commercial solar cells, but in a new way, so these efficiency improvements are readily accessible to the solar industry."
While traditional methods use one solar cell, which limits the conversion of sunlight to electricity to about 33 percent, the newer technology splits the sunlight into four different cells, which boosts the conversion levels, Green told AFP.
The record efficiency level was achieved in tests in Sydney and replicated at the United States government's National Renewable Energy Laboratory, the university said.
The prototype technology is set to be harnessed by Australian company RayGen Resources for solar power towers, which use sun-tracking mirrors to focus sunlight on a tall building.
Green is hopeful the technology can also eventually be used for solar panels mounted on people's roofs, which he said currently had a 15 to 18 percent efficiency rate.
"The panels that you have on the roof of your home, at the moment they just have a single cell but eventually they'll have several different cells... and they'll be able to improve their efficiency to this kind of level," he told AFP.
Green said strides in technology made in the solar industry such as the higher conversion levels were helping to drive down the cost of renewable energy.
He was confident that in a decade solar-generated electricity would be cheaper than that produced by coal.
Every company lawsuit I have been a party to netted me a very small percentage of my loss.
It's the lawyers that get the big payday.
WS was gonna dump the stock after the div anyway.
I knew it was coming, so I'm glad the company preempted WS giving us small guys a chance to buy in real cheap for the long haul.
And WS will never get my shares just by pumping this a few dollars higher..
If WS dumps the shares because they don't want to take the risk and hold for a recovery, then we smaller investors should not let them have them back until we at least double our money.
So if you're like me, load up, and hang on for a few years.
If I remember it correctly, fro assets somehow ended up with sfl and that fro 2 company that was set up.
Fro as I last heard just rents ships now and has very little value in assets.
I warned people to get out of it at the time.
I know there were a few diehards that rode it all the way down.
Seemed to me that only JF and some of his wealthy backers were the ones who profited from Fro's decline.
The other thing I noticed when looking at fro historical div history is that there were some years that div's were not paid and then maybe reinstated.
Perhaps it is situation like we are in now.
Thanks for the advice.
7.50 will be my next buy after 10, and it gets larger as we drop in price.
I will make a note of your post.
I am buying with a 3-5 year time horizon in mind or until the price reaches 30s.
Will not sell a single share until then.
He is an idiot.. Too old and senile and should retire shortly. I hope the board convinces him of that.
It might help restore a little investor trust in the mgmt of the company.
I think the board exercised their fiduciary duty in cutting the div.
There must be quite a war going on behind closed doors.
Hope he resigns.
Don't feel bad, a lot of good folks got caught up in the big lie.
Personally I feel this could be a lot longer recovery than many.
I give it as long as 3-5 years.
But I hope and think sdrl will survive.
Afew years back I was in ACAS and watched it fall from the 40s all the way to .60, eliminated the div at one point, and was on the verge of bk.
I took a chance and bought 2k shares at .60 and sold several dollars later.
You never know. SDRL could do the same.
You are correct in your assessment.
I'm also expecting a market pullback in a month or so which could drag sdrl lower.
That's why my current strategy is to buy every second drop in price.
Next drop I add to my already large collection of sdrl shares.
You're right but stockholders can also be shortsighted and imprudent when it comes to a dividend, leading to future financial problems and loss of equity value.
Retiring debt is more important to future company survival.
That's why US is in a long term decline while China's long term views may prevail.