Seeking Alpha

NewLead Holdings files more claims against Ironbridge

  • NewLead Holdings (NEWL -20.5%) announces it filed claims against Ironbridge for breach of contract and market manipulation as part of ongoing arbitration between the companies.
  • The dollar amount of the claims put forth by NewLead exceeds $125M.
Comments (12)
  • kroberson
    , contributor
    Comments (3) | Send Message
     
    Newl will close around $1.00 today
    7 Jul 2014, 10:17 AM Reply Like
  • briandwright
    , contributor
    Comments (28) | Send Message
     
    Thanks for the comic relief, Skippy.
    7 Jul 2014, 10:24 AM Reply Like
  • nick5578
    , contributor
    Comments (3) | Send Message
     
    what is happening with NEWL? ever go up again? any comments
    9 Jul 2014, 03:31 PM Reply Like
  • brandondelbosque1@yahoo.com
    , contributor
    Comments (66) | Send Message
     
    I would have to say that IronRidge is unloading all of that stock, trying to get paid real quick. They probably know that this lawsuit is going to hurt them this time around. Every time this stock tries to break free, someone unloads a massive amount of shares to bring it down. The only thing that will bring this back, is the fact that NEWL, is going to have another vessel arrive this month sometime, then another next month. Also they have to stop the bleeding and win some kind of restraint against IronRidge in this lawsuit. If they can win and the vessels hurry up and arrive, this stock will again break the $1.00 point and soar back to the $4.00 range it once was in may. For the record this stock will never hit the $5,000.00 range ever. This company has diluted so much and has done so many reverse splits, it will never be possible. This company would have to perform and then do some major buybacks and then about 7 splits to get the company on the right path. I am long on this stock, because of the new vessels that are arriving and believe that Ironridge has had a big part in this stock dropping so much. If NEWL can win the lawsuit they will win their company control back. Until then, they have a lot of debt, but with prices dropping in Ore Iron and demand going up for coal, they will be able to make some money. The new vessels are the starting point of cleaning up shop and making it to be successful.
    9 Jul 2014, 11:01 PM Reply Like
  • nick5578
    , contributor
    Comments (3) | Send Message
     
    Good analysis this gave me some relief.
    10 Jul 2014, 09:01 PM Reply Like
  • brandondelbosque1@yahoo.com
    , contributor
    Comments (66) | Send Message
     
    Now don't get me wrong, it has a long road to go, but this can be a very nice reward if you are willing to risk money. As you may have noticed, today was the first day that volume was somewhat under control. I believe that Iron ridge has dumped majority if not all of their position. This is why Newlead was able to have 100 million less shares exchange hands today. Like i said in previous comment, Newlead needs the vessels then they need to suit to favor them and then they can work to be a success. Coal and Iron are the main demands for foreign countries and with prices dropping, it will be a great deal. This company can work its way back into the proper prices and become a very big strength in the boating business. As i said, today was a good sign of some relief for the bashing on this stock. now just have to gain investors interest and that will happen, when they bring new vessels.
    10 Jul 2014, 10:51 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    I agree. I am long to prevail over the pests playing with the volume on the radio... Separately, it's my observation that the Court comes down HARD on any 'funny business' in securities litigation. Stated differently, markets and investors have witnessed how things eventually play out when parties deal unfairly and/or in bad faith.

     

    Markets also know the SEC takes complaints about securities fraud.

     

    "Absence of evidence is not evidence of absence."
    That's not a rule of thumb. That's logic.

     

    Stay tuned and think critically.
    11 Jul 2014, 08:32 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    Accumulated long position on $NEWL
    11 Jul 2014, 08:31 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    The recent headline has me thinking about if they intend to allege Breach of Covenant of Good Faith and Fair Dealing and Breach of Fiduciary Duty and curious if they will seek treble damages and punitive damages. Someone commented above about decrease in share price. I ponder and wonder if defendants will get slapped with a compliance review and class complaint. Would be nice to have a crystal ball but at least we have the free exchange of ideas and discovery.
    14 Jul 2014, 01:39 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    FYI for public knowledge (for those who do not know): If you have any information to report about any kind of securities fraud or related type of situation:

     

    http://1.usa.gov/viWoSv

     

    Fraud hurts everyone.
    14 Jul 2014, 06:37 PM Reply Like
  • vmanubolu
    , contributor
    Comments (3) | Send Message
     
    reverse split 1:50 is that good or bad.
    15 Jul 2014, 06:06 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    Depends on the company and the facts. In this case, I believe it helped keep NEWL trading on the exchange and did some damage control to whatever was happening to the volume and price that have nothing to do with the future cash flow of the actual operations.

     

    In my opinion, the market responded positively to this decision. I did not know NEWL owns a mine next to CSX Rail in the United States.

     

    I see all of this as a fight over the ownership of very deep value.
    15 Jul 2014, 10:12 PM Reply Like
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