i like to know who initiated the IMF move, i dont think the little guys did. My take is that IMF was approached by BT and Blackrock and any other institution who was on board from early 2013. That changes the game as they are not after cents in a dollar. They where invested at the top, and so they are looking to recover values in the share from when it was up to 6.0 dollars per share. Lets say we win and some how the directors and insurers have plenty money to claim against, the pay back for holders could be substantial.
On the other hand i think its likely that we may get % of loss back, so if you got in at $6 and your awarded %50 thats $3.
If you got in at $1.50 then thats .70c
Now thats a good outcome, but i'm not holding my breath of seeing that much back. Non the less any amount is better than nothing.
I dont think the institutions will settle for nothing, the lawyers are estimating 5.5mil in costs i dont know what IMF will take, they could be up to %25 or more.
FGE Price at posting:
91.5¢ Sentiment: Buy Disclosure: Held
