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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC
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To: fatheroz who wrote (459)8/27/1999 5:35:00 PM
From: Sethpop   of 476
 
When a company is going through reorganization the actual confirmation of the plan through the court can frequently be delayed months and months for a variety of reasons. In this case there was a shareholders' suit related to alleged mis-statements by the company about its prospects a while back...and they filed an objection to the reorganization plan which has now had a settlement that has been tentatively agreed to...This accounted for the most recent delay. Having been in Bankruptcy court for weeks on end for a variety of situations, depending on the judge, almost any "objection" can delay the process. At the end of the day, however, none of this will make any difference to the current GBFE shareholders who will get next to ZERO for their stock as computed in prior notes. The settlement of the prior shareholders' suits will be moneys that will go to people who owned the stock at specific intervals of time well before now and thus will not add any value to the current stock!!
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