They came out squeaky clean in 2001, keeping all their shares. (Major shout-out to the State of California for bailing them out, and shouldering all the subsequent liabilities from that adventure.)
The second one diluted them by 22%, by creating and giving new stock to the people who won lawsuits against the firm. The stock's up by more than 22% since the impact of the fires on the company was realized...
If they were zeroed out after either bankruptcy, I wouldn't be kvetching, but here we are...
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They did, through both bankruptcies.
They came out squeaky clean in 2001, keeping all their shares. (Major shout-out to the State of California for bailing them out, and shouldering all the subsequent liabilities from that adventure.)
The second one diluted them by 22%, by creating and giving new stock to the people who won lawsuits against the firm. The stock's up by more than 22% since the impact of the fires on the company was realized...
If they were zeroed out after either bankruptcy, I wouldn't be kvetching, but here we are...