"No conspiracies here, he's selling because they're going to file for bankruptcy.
A new Bloomberg article confirms once again the company is hours away from filing Chapter 11.
Those buying here at $0.30 still stand to lose almost all of their equity investment.
By Parke Shall
Hoping for some "too good to be true" conspiracy theory? Sorry, we can't offer one. David Einhorn is selling his shares because the company is going to be filing for bankruptcy really soon. Probably within just hours or days.
Street Insider reported,
In a 13D filing David Einhorn's hedge fund Greenlight Capital disclosed a 2.8%, or 11,331,833 share, stake in the company. This is down 58.26% from the 27,151,576 shares held..."
cut, continue reading-