When things look that bad, it's probably time to get in. Wonder when Warren makes his announcement MWD problem is not this law suit. They've got to get rid of that imbecile Purcell. Too bad the MS (not the DW Sears suits) people that left gave up without a fight. But the jury is out on that one and I bet it ends differently. As far as appeals go, check out what happened ot Altria.
According to a press release I read on Tuesday the firm had net capital of about 5 Billion at the end of the last quarter. It also stated that if the judgement and punative damages were to have equalled 2.4 Billion pre tax credit based that would only amount to about $1.5 billion post tax credit based. As far as whether it has farther to fall or is ready to bounce, currently it has recieved a haircut of about 20% from the 52 week high and as others have stated they were expecting a $350 Million hit from this. Looked at I Watch and institutions are on both sides about equally strong over the past 30 days; except for a 24 + million share purchase by State Street Corp at the end of March. Given that the market is a forward discounting mechanism, who knows where the price is headed.
Ron Perelman made out like a bandit....what a shark. Making hiimself out to be a victim...when he has crushed so many in his time ( a drexel darling ). As if he didnt know that sunbeams "Al the chainsaw whatever" wasnt cooking the mo-fo books...they were sticking millions of $$$$ in BBQ and Blenders in warehouses and booking them as sales...
For sure. I want the name of his lawyer. Anyone that can make a billionaire look like the victim is one crafty attorney.