So Signature resigned as a limited member of DTCC for the sake of convenience? Don't have to keep cash on deposit, maybe save a few fees, apparently no clients were using the DRS system anyway. All right, that makes good business sense. But there are numerous other TA's out there who cater mostly if not exclusively to penny stocks who would find themselves in the same situation - why don't they do the same thing for the sake of convenience and cost savings? I haven't found one other case of a TA resigning from the DTCC, before or since Signature's July 2014 resignation. Also, it seems rather ironic to me that the one TA who has resigned from the DTCC is caught up in a highly controversial case that at its core involves the DTCC's ability to track shares pre and post record date and properly assign dividends and due bills accordingly. Maybe it's just a coincidence. I just don't think it is though. And now we have a situation where SST remains the only active defendant in the COR case in Nebraska, and COR has filed under seal confidential and highly confidential documents from the DTCC.
And what about COR's costs? Do you think Hilgers is making $1000 an hour? Maybe not quite that much but close. If you assume 10 hours a week of billable hours just for him alone (it's probably more) that's almost $400,000 in attorney fees. And SST and Jason Bogutski don't even have $400,000 let alone 4 million. Take the money from Darbie and the frozen accounts of Nobilis and Beaufort that's there for the taking and be done with it.
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