GSI Shareholders Get a Bump

June 15, 2011

Reuters is reporting a settlement in the Delaware Chancery Court that is getting GSI shareholders an extra $0.33 a share in its sale to eBay.  Although this does not seem like a significant bump, when added up over a number of shares, it can turn into some significant cash. Usually, lawsuits challenging deals do not […]

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Make Sure Your Companies Are Not in the Reverse Merger Business

June 15, 2011

The SEC has put out an APB on reverse mergers.  According to the WSJ: A “reverse merger” or “reverse takeover” is a backdoor process that allows a private company to merge with a public one so as to gain access to capital markets – and for much less cost than is involved in traditional initial […]

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What Good Boards Do: Take the Better Offer

June 14, 2011

Graham Packaging is controlled by private equity titan The Blackstone Group.  Blackstone, which was behind the largest public company purchase of all time in 2006 (an all cash), sold Graham in decision that seems to be consistent with its roots. Specifically, it jilted and cash/stock offer from Silgan Holdings Inc. to take a larger, all-cash […]

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Goldman Sachs Investigated for Bribing Libyan Investment Manager

June 10, 2011

I’ve posted about whether investors really care about allegations of FCPA violations against their companies.  Here, it looks as though Goldman Sachs was trying to gain access to Libya’s government’s investment business.  If the cost of doing business in some countries takes a bribe, can investors blame companies for trying to expand the market? I’m […]

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Big Arbitration Award Against Credit Suisse Upheld

June 8, 2011

The Second Circuit recently upheld a $400 million arbitration award award against Credit Suisse in connection with auction-rate securities collapse.  Well, it wasn’t exactly in connection with the collapse of those securities, it was really about how Credit Suisse brokers told the claimant that it would invest the money only in federally-backed student loan securities. […]

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Penny Stock Watch: Microcaps Get Suspended

June 8, 2011

Penny stocks are a naturally risky venture, but if you hold these stocks, make sure you are weighing your options, because the SEC is questioning the accuracy of their public information: American Pacific Rim Commerce Group (APRM), based in Citra, Fla. Anywhere MD, Inc. (ANWM), based in Altascadero, Calif. Calypso Wireless Inc. (CLYW), based in […]

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Deutsche Borse Sweetens the Pot for NYSE: Part II

June 7, 2011

Even though Deutsche Borse and NYSE successfully vanquished NASDAQ’s rival bid, investors still needed a little more incentive to vote for the transaction.  So, Deutsche Borse is sweetening the pot.  Again. NYSE’s justification for the special dividend is interesting: The ability to provide a special dividend underscores the strength of the combined group, which will […]

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Just Say No: To a 45% Premium?

June 6, 2011

This afternoon, the NY Times Dealbook reported that packaging maker Temple-Inland rejected an unsolicited offer from International Paper that amounted to a 45% premium.  Temple-Inland is saying that the offer “grossly undervalues” the company.  It better get its poison pill ready, because a hostile takeover is coming. UPDATE:  Here is the hostile takeover.

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Announcements: Apologies for the Hiatus

June 4, 2011

Apologies for the hiatus.  The Stock Loss Blog is a single author blog whose business and personal life has been extremely busy.  Regular posts will resume Monday. –SLB

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Johnson & Johnson Hit with Suit Over FCPA Settlement

May 8, 2011

I’ve discussed what a shareholder derivative case is  (an action on behalf of the corporation against its officers and directors). A new wave of derivative litigation is happening for pharmaceutical companies that are investigated and fined by the U.S. for violations of the Foreign Corrupt Practices Act, i.e., bribing foreign officials. J&J is the latest suit in […]

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