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$Fisker (FSRNQ.US)$ If you still own stock in this company y...
If you still own stock in this company you will have received a "Consent Solicitation" e-mail from Fisker, via your broker, by now. In the e-mail is the option to Vote "FOR" an Opt-Out of the consensual third-party release. I encourage you all to Opt-Out. Note: Any other vote, or NOT voting at all, IS a vote to Opt-In.
What's a consensual third-party release you ask? Well, first off a release is litereally to release a Plaintiff from all future and current claims, such as lawsuits for some sort of consideration, such as money. Basically, a settlement. And the third-party is Henrik, Geeta and the rest of the Fisker Board. So they're hoping you Opt-In so that you have no legal recourse against these folks in the future.
Again: Any other vote, or NOT voting at all, IS a vote to Opt-In and relinquish your rights to a lawsuit.
Previously, they would have baked an NTP into "the Plan" - an NTP is a NONE-consensual third-party release, which is a little different. It is a release WITHOUT your consent. That is, by approving the Plan, the judge would have effectively Opted-In the release for everyone WITHOUT your consent. But fortunately, the SCOTUS recently ruled that NTP's are unconstitutional back in July. This was perfect timing, because without this ruling, you'd have no access to recovery of any sort because of the NTP.
Why does all this even matter since they're in CHP11? Well, if Fisker, the board or even CVI are found to have illegally manipulated the stock, you can expect a lawsuit against them and their PERSONAL assets. Many people think the stock was illegally manipulated and shorted so they could benefit. Remember the "leaked" rumors about Fisker having several suitors? Well, the SEC and others are in an active investigation.
If you still own stock I encourage you to hold on. By having proof of loss, you have actual damages and can seek recovery in a lawsuit, class-action or otherwise. If you no actual damages, you have no standing in Court. Even if you sold at a loss, you still have a good chance at recovery.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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知足不能常乐 : Why choose to lift? Once it's lifted, can't you hold them accountable anymore?
知足不能常乐 : It's quite obvious, the management misled and should be held accountable, but they sold the house....
Lossss : I have over 300k shares here and 68k on fidelity. I got the email from fidelity but not from moomoo. If I submit the fidelity one will that cover my moomoo shares?
73677513 : I trust you Greener, i have voted FOR, to fking OPT OUT. I am ready to take them to cleaners if they cheated. They made a wonderful car, and we trusted them to do decent, even then they did something wrong, then they must be punished
知足不能常乐 : Within what timeframe is this selection completed?
Andrew B950 : SEC posted an objection earlier today. The wording SEC used is "failure by public shareholders to return an opt-out form is insufficient evidence of shareholder consent". My interpretation is that SEC is saying just because shareholder doesn't vote, does not necessarily force them as being "opted in" simply by not voting.
Therefore, what impact does this latest curveball have on the consent solicitation?
veritaglobal.ne...