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Citadel Goes BUST!

O

OHTBGH

Checking the stock scene today. Citadel moved from CTDB to CTDBQ.

All the share holders are now wiped out at .05.

Guess the BK went through offically.

Good luck to all former holders.

-BGH
 
I hope they sue the head idiot of that company personally. He and his cronies should be out on the street like so many of their DJs have been put out. He and is ways of doing business is why the stockholders (many long-time employees) got the shaft. Farid stinks.
 
Although I'm not an attorney, I'd be surprised if the stakeholders have any legal cause to sue Farid. I do, however, have to agree with you that he should be out on his rear end, and I don't know what they new owners are thinking in keeping him around. When someone drives your company into bankruptcy, common sense says you don't keep that person around!
 
Oh, yes, a class-action suit was filed months ago. I get letters every once in a while asking me to participate. I toss them. Bye-bye 500 bucks.
 
Well a hedge fund had a major stake in them. Also someone had 15 million dollars (or was it shares?) invested as well.

They had positive cash flow but the service on the debt interest was mindblowing! Holders wanted them to sell some of the underperforming stations but board wouldn't budge.

Loss of hanity and Paul Harvey really crippled them as well.

They think they will be out of bk by next year. Best thing to do is save your money and buy into the new stock, get a coalition of holders together and vote the rat bastards out!

-BGH
 
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