NEWL: NewLead Holdings Limited (NASDAQ:NEWL) To File A Case NewLead Against Ironridge Global
by Steven Campbell - on Jul 9th 2014 -
http://basicsmedia.com/newlead-holdings-limit...obal-10041
Tomahawk, WI 07/09/2014 (Basicsmedia) – NewLead Holdings Limited (NASDAQ:NEWL) has announced today that it would be filing allegations against Ironridge Global IV, Limited on June 23, 2014, in the negotiation proceedings which is at present pending between the two.
NewLead has given the indications that the company has no interest to receive or accept any sort of further funding from Ironridge, until and unless the allegations are settled. But then also Ironridge has mentioned some waiver condition under their notes, in which indirectly they have forced NewLead Holdings Limited (NASDAQ:NEWL) to receive the funds from Ironridge. As these forced funding is not at all any sort of obligation to the company, the firm believes that such sort of note is just an attempt to posses the ability to adapt further shares. As soon as Ironridge was made aware about this news, they converted the portion of their preferred shares equivalent to the note.
NewLead has filed the case against Ironridge under various heads. They filed allegations for
The violation of the agreement.
The fake encouragement of contract and the scam related with same.
Manipulation in the securities market and falsification in breach of United States national securities law.
Unfair enhancement and disobedience of the law under section 15 USC 78p(b).
Looking for the discharge of short term earnings.
The damages made in surplus of $25 million to NewLead.
The disciplinary damages done in surplus of $100 million to the firm.
The compensation of the cost of settlement along with the official costs.
NewLead Holdings Limited (NASDAQ:NEWL) has also appealed that the negotiation hearing should declare that the contract between the two companies is concluded or/and void. Also it should be declared that Ironridge has no right in the indulgence in the issuance of further shares of NewLead.
Although the company believes that all these assumptions were logical when made, as they were made according to the noteworthy doubts, NewLead cannot promise whether it would achieve these expectations.
DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Categorized as Featured
Tags NASDAQ:NEWLNewLead Holdings Limited (NASDAQ:NEWL)
About the AuthorSteven Campbell
Steven Campbell began at Morgan Stanley (MS) and worked in the S&P 500 Futures Pit as a market maker from its inception, and was an original seat holder at the Chicago Mercantile Exchange (CME) in the 1980's. Steven was also President and founder of Chicago Arbitrage Group and a Portfolio Manager of multi billion dollar portfolios during the Internet boom in San Francisco for various Hedge Funds and Capital Market desks. Steven is a regularly syndicated writer who contributes financial content to multiple websites across the baby boomer demographic as a former trader and money manager. He resides in Northern, WI and is the happy fisherman you see on the local lakes when not at the computer.
- See more at: http://basicsmedia.com/newlead-holdings-limit...mh8Fy.dpuf
by Steven Campbell - on Jul 9th 2014 -
http://basicsmedia.com/newlead-holdings-limit...obal-10041
Tomahawk, WI 07/09/2014 (Basicsmedia) – NewLead Holdings Limited (NASDAQ:NEWL) has announced today that it would be filing allegations against Ironridge Global IV, Limited on June 23, 2014, in the negotiation proceedings which is at present pending between the two.
NewLead has given the indications that the company has no interest to receive or accept any sort of further funding from Ironridge, until and unless the allegations are settled. But then also Ironridge has mentioned some waiver condition under their notes, in which indirectly they have forced NewLead Holdings Limited (NASDAQ:NEWL) to receive the funds from Ironridge. As these forced funding is not at all any sort of obligation to the company, the firm believes that such sort of note is just an attempt to posses the ability to adapt further shares. As soon as Ironridge was made aware about this news, they converted the portion of their preferred shares equivalent to the note.
NewLead has filed the case against Ironridge under various heads. They filed allegations for
The violation of the agreement.
The fake encouragement of contract and the scam related with same.
Manipulation in the securities market and falsification in breach of United States national securities law.
Unfair enhancement and disobedience of the law under section 15 USC 78p(b).
Looking for the discharge of short term earnings.
The damages made in surplus of $25 million to NewLead.
The disciplinary damages done in surplus of $100 million to the firm.
The compensation of the cost of settlement along with the official costs.
NewLead Holdings Limited (NASDAQ:NEWL) has also appealed that the negotiation hearing should declare that the contract between the two companies is concluded or/and void. Also it should be declared that Ironridge has no right in the indulgence in the issuance of further shares of NewLead.
Although the company believes that all these assumptions were logical when made, as they were made according to the noteworthy doubts, NewLead cannot promise whether it would achieve these expectations.
DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Categorized as Featured
Tags NASDAQ:NEWLNewLead Holdings Limited (NASDAQ:NEWL)
About the AuthorSteven Campbell
Steven Campbell began at Morgan Stanley (MS) and worked in the S&P 500 Futures Pit as a market maker from its inception, and was an original seat holder at the Chicago Mercantile Exchange (CME) in the 1980's. Steven was also President and founder of Chicago Arbitrage Group and a Portfolio Manager of multi billion dollar portfolios during the Internet boom in San Francisco for various Hedge Funds and Capital Market desks. Steven is a regularly syndicated writer who contributes financial content to multiple websites across the baby boomer demographic as a former trader and money manager. He resides in Northern, WI and is the happy fisherman you see on the local lakes when not at the computer.
- See more at: http://basicsmedia.com/newlead-holdings-limit...mh8Fy.dpuf
