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  4. Calissio Resources Group, Inc. (CRGP) Message Board

Everyone needs to stop worrying about the lawsuit.

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Post# of 11039
Posted On: 09/25/2015 10:21:14 AM
Posted By: bdna
Everyone needs to stop worrying about the lawsuit. This is strictly an issue between COR and CRGP. It has nothing to do with us shareholders who received dividends into our accounts such as E-Trade, ScotTrade, TD, etc. E-Trade may tell you that their dividend hold is due to the lawsuit, but any legal scholar will tell you that the law suit has no bearing on shareholders... PERIOD. COR does not have legal standing to collect from shareholders. Although this case is relating to the dividend that we all received. This issue here is not about the dividend in general... It is about due bills that attached to COR's client. Moreover, expect a default judgment against CRGP.. But, don't let it frighten you. COR will not be able to collect from CRGP and they will either eat the 4 million loss or they will be compensated through insurance. There is no such thing as a dividend clawback.. Who even created this phrase? I've taken numerous finance and law courses and never heard any mention of a dividend clawback.. The ONLY chance we have of a dividend being pulled from us is if COR attempts to pierce the corporate veil and make the shareholders liable for the debt of the corporation (But this is very rare and there are no cases of this happening with publicly traded corporations. The administrative burden of doing this and collecting will outweigh the recovery benefits) or FINRA will get involved and try to reverse it on their end. (This is also very unlikely and at this point I don't even think FINRA has jurisdictional standing to force a reversal.... Not after it was approved and paid out.. Trust me they would have acted by now if they were going to attempt a reversal and they would not have allowed it to trade again).


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