All lawsuits against Prospect dropped


The ambulance-chasing suits against Prospect Capital (PSEC) and its top officers stemmed from a potential accounting issue flagged by the SEC, but then dropped upon by appeal by the company.

Previously: Prospect Capital +3.4% after SEC appeal pans out

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Comments (23)
  • AlieGee
    , contributor
    Comments (193) | Send Message
     
    Great news. On with business.
    25 Jun 2014, 07:26 AM Reply Like
  • 20/20Dividends
    , contributor
    Comments (168) | Send Message
     
    LOL!...too funny...get ready for PSEC to move higher...
    25 Jun 2014, 07:47 AM Reply Like
  • critterlitter
    , contributor
    Comments (419) | Send Message
     
    If it moves higher, very little, if any will be attributed to this. The vast majority of players in the market know that these suits are bandwagon ploys by law firms looking to pay their staff. With that said, PSEC's price adjusted when the SEC made their decisions.

     

    Nevertheless, it's good to see these peripheral hangovers out of the way. One thing that gets me is that some people want the share price to rise. That tells me that they're taking the role of a trader rather than an investor.

     

    Capital appreciation is something that can be bittersweet, when most people gravitate toward Prospect for buying new shares through the drip every month and would rather see the price stay below NAV. When the price is above NAV, I don't see the drip shares as a bargain. I've never seen Prospect as a buy-and-sell commodity. Buying on dips is the way to grow value over and above the distribution ...
    25 Jun 2014, 10:36 AM Reply Like
  • Chris K.
    , contributor
    Comments (114) | Send Message
     
    Damn ambulance chasers.......
    25 Jun 2014, 08:10 AM Reply Like
  • busterosodd
    , contributor
    Comments (63) | Send Message
     
    What's the difference between a catfish and a lawyer? One's a bottom-feeding scum sucker, the other is a fish...
    25 Jun 2014, 08:18 AM Reply Like
  • newnnly
    , contributor
    Comments (383) | Send Message
     
    A dog and a lawyer both got hit by a car on the same street. How do you know which was which?

     

    Answer: There were skid marks in front of the dog.
    25 Jun 2014, 07:14 PM Reply Like
  • Joe Lunchbox
    , contributor
    Comments (679) | Send Message
     
    I hear they bury lawyers 12 feet deep instead of 6. Deep down they're really good people. :)
    25 Jun 2014, 07:24 PM Reply Like
  • ToddCliff
    , contributor
    Comments (11) | Send Message
     
    Someone needs to sue the ambulance chasing lawyers for driving the stock price down with false claims against the company.
    25 Jun 2014, 09:01 AM Reply Like
  • critterlitter
    , contributor
    Comments (419) | Send Message
     
    Hmmmmmm ---- most shareholders see the shallow basis for these suits and look at these events as great opportunities to add value to their portfolio by buying on the dip due to the shareholders that sell and drive the dip.

     

    This event was a classic example of how people including myself saw this as nothing less than an opportunity. Prospect should be fluctuating in the mid-ten to eleven category. When it drops by 20 cents due to something like this, that's when one should buy in or add to their shares. The other recent opportunity was when one of Prospect's holdings claimed bankruptcy --- just another opportunity. Combine the two together and these events created at least a 2% "discount" and as predicted, they came and went and the stock price is back where it belongs.

     

    Look for these opportunities and over the course of the year, this will add up to some sizeable savings/gains.
    25 Jun 2014, 10:45 AM Reply Like
  • Glucose
    , contributor
    Comments (244) | Send Message
     
    why sue? Embrace - they create buying opportunities!!!
    25 Jun 2014, 09:24 AM Reply Like
  • rjamesh
    , contributor
    Comments (42) | Send Message
     
    .....and buy low I did.
    25 Jun 2014, 09:26 AM Reply Like
  • WFTilson4
    , contributor
    Comments (20) | Send Message
     
    I agree with the general tenor of opinions regarding lawyers - What everyone needs to remember is that this is America, the land of the free where greed and stupidity are allowed to walk hand-in-hand down the road of life...
    25 Jun 2014, 09:58 AM Reply Like
  • smurf
    , contributor
    Comments (6171) | Send Message
     
    Yet the stock is off 8 cents this morning while other BDCs are up. Maybe Mr. Market has other concerns about the company? Go figure.
    25 Jun 2014, 10:09 AM Reply Like
  • critterlitter
    , contributor
    Comments (419) | Send Message
     
    I consider 8 cents as the normal day-to-day asking and bidding game. If there was never any fluctuation, then that would mean that everyone in the market is dead. There are always non-eventful reasons for fluctuation because there's almost an infinite amount of reasons to buy or sell. Every player has a reason for doing what they do.

     

    I look at anything under 1% "normal activity". Once it moves beyond this, I ask myself some questions but certainly don't put my finger near the button. At most, and this is just my take, it is a tap on the shoulder to keep an eye on things.
    25 Jun 2014, 10:52 AM Reply Like
  • FadeToBlack
    , contributor
    Comments (125) | Send Message
     
    Back to even now. Small swings happen, you can't sweat them, and not every piece of positive news, especially ones expected like this, will raise the price.
    25 Jun 2014, 01:45 PM Reply Like
  • TEX1961
    , contributor
    Comments (254) | Send Message
     
    I hope some parasite lawyers lost a lot of money. I bought more PSEC while the piling on was going on and I am glad I did. Carry on!!!
    25 Jun 2014, 11:05 AM Reply Like
  • FadeToBlack
    , contributor
    Comments (125) | Send Message
     
    Each lawyer filing maybe lost a few hundred bucks worth of fees and time... nothing when the rewards are potentially millions from being the earliest filers.
    25 Jun 2014, 01:45 PM Reply Like
  • kingdad
    , contributor
    Comments (1371) | Send Message
     
    Shysters Slink back down sewers and cesspools from which they emerged!
    25 Jun 2014, 11:23 AM Reply Like
  • Sting71
    , contributor
    Comments (75) | Send Message
     
    What is black and brown and looks good on a lawyer?

     

    Doberman.
    25 Jun 2014, 04:12 PM Reply Like
  • mythoughts
    , contributor
    Comments (192) | Send Message
     
    How can you tell when a lawyer is lying? When his lips are moving.
    25 Jun 2014, 06:10 PM Reply Like
  • kingdad
    , contributor
    Comments (1371) | Send Message
     
    What to you call half a Busload of Lawyers Going over a Cliff to their doom?

     

    ans: A Damn Shame, that the bus wasn't full.
    26 Jun 2014, 11:06 AM Reply Like
  • Glucose
    , contributor
    Comments (244) | Send Message
     
    please stop with the hypocrisy. everyone needs and uses a laywer. So just be happy that they provide such a great opportunities.
    26 Jun 2014, 09:37 PM Reply Like
  • Glucose
    , contributor
    Comments (244) | Send Message
     
    better call, Saul...haha
    26 Jun 2014, 10:56 PM Reply Like
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