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damning article

  1. cpg
    3,625 Posts.

    ''By Tuesday the shares had fallen 43 per cent and the lenders had swooped to take possession of some of Groves's stock, and by Wednesday the company was talking to a number of would-be buyers of major assets of the business.

    And on this basis the company sought to have its shares suspended from trading.

    I find this scenario nearly impossible to believe''

    ''The second option is that Groves needed to have the ABC shares suspended from trading so the share price could not deteriorate further and trigger margin calls against what is left of his holding.

    The latter explanation seems more credible because the big investment banking guns at Goldman Sachs JBWere were not hired until this week.''


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