Zolis - you have a somewhat selective recitation of what folks who contacted the SEC were told. In addition to being told that they (the SEC) cannot comment on the existence, vel non, of an investigation, they also were told that only the company itself can advise if there is an investigation. So if the SEC cannot tell, but the company can, whose fault is the lack telling the shareholders whether there is an investigation? And I am not talking about the cute-sy remarks by the CEO that "it does not take a rocket scientist," or some other such drivel. If he came right out and said there is an investigation when there is not, the SEC then could correct what would be an outright lie. On the other hand, saying there is no investigation when in fact there is one would expose the same guy to direct action by every individual shareholder for fraud.
In any event, my bet is that there is no investigation (or that any such investigation has been completed), and the company is swirling around the porcelain pool, soon to have its component parts liquidated at the BK sale. While some of those components have some value, the real question is whether any of us will see any of that value, given the number of outstanding shares of both companies, as well as unpaid debts owed to any number of creditors.
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