No they didn't. In one case they did. But as I mentioned Chinese courts don't operate as US courts do. They don't use precedence.
Actually, the first key - is Chinese courts. Remember that Chinese courts don't follow presidence as US courts do, so even if the Sino-Enviromental case is similar it may not mean much.
The second key is fees. Seiden and Marks along with a bevy of lawyers could make out quite well if Chinese courts decide in their favor, but after fees, investors may recover only pennies. That's what has been happening in the fraud cases that have been settled at least.
I'm watching this case closely and hoping for a meaningful recovery. And if it does occur, I too will be hiring Seiden. Still - I'll believe it when I see it.
OK, show me the court decision. I have never heard of it, so I remain doubtful. However, as I've always stated, I hope Seiden is successful.
But that could only happen if Chinese courts agree. Hong Kong may be going along with Seiden, but that doesn't mean that China will. When it comes down to Ren vs. Seiden in China courts who wins?
But if Seiden can pull it off, he is going to be a rich man since every investor in the other Chiscams will be beating down his door.
Seiden is still firing away at SCEI. You can got there to read the update. It looks like is is firing from every angle possible, however who knows if it will work. But if it does, maybe we should hire him too.
If Seiden actually collects any money for SCEI investors, I'll join. Until I can see that anyone can fight a Chinese CEO and win in China - what's the point?
Exactly wrong! Timing this market is exactly the way to get ahead. Anyone who rode this down from $25 to $5 was a fool! And they still haven't got back to even. Those who bought the panic selling in 2009 when the Fed promised to fill the sky with dollars made a fortune. And that same scenario could easily play out again since none of the problems that caused that crisis have been fixed. The world is financially levered even more now - not less. It's just not going to be subprime housing that crashes markets next time. I will continue to time this market because I don't want to watch all my gains evaporate.
This is a very dangerous VIE like WKBT or CSKI. At anytime of his choosing, Wang can go dark just like they did.
You missed your chance at $18.50. The VIX gave the second buy signal of the year. First one was in Feb. As long as the 10Y holds below 2.75, the price of FFC isn't going to fall. Janet isn't going to raise rates until late 2015 if she ever does. You could have a long wait.
No it is not a profitable company. It is still an empty shell. All profits are held in China and you'll never see a penny. And yes I'm still here warning as I have all the way down from $14.
The Chinese government might actually stand behind some of the VIE structures in the industries in which they approve foreign investment in. However, as WKBT, CSKI, and many others show - pill pushers are not included.
Fake earnings to go along with the fake PR on Monday. Wow insiders really want to dump this junk!
How long until the next reverse split?
Why would you love an empty shell company?
Remember that it is a VIE saying that you are entitled to the earnings of a few chinese companies. However, never have any of those earnings actually been transferred to the shell. Someone buying BSPM is only buying empty promises.
The stochastic indicator is below 20 and that has been a good buying point this year - if we are not going to have a major sell-off. If I see this and other preferred stocks holding for a few days while the 10 Y also stabilizes; I'll be forced to buy too I guess. Still - I'd love to see a real panic sell-off on high volume to flush out the overly Bullish.
FFC's sister FLC trades at an 8% discount to NAV. FFC is only @ 3%. So either FFC needs to go down 5% or FLC needs to go up 5%. Looks like FFC is going to be the one to adjust.