Author Topic: EZPW - EZCorp  (Read 69086 times)

yadayada

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Re: EZPW - EZCorp
« Reply #20 on: January 29, 2014, 07:10:01 AM »
And thoughts on ABM? They tried to sell the company, but didnt get good offers. It's pretty much an option right now at 6 million. People with more knowledge on this know what is likely to happen next?


racemize

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Re: EZPW - EZCorp
« Reply #21 on: January 29, 2014, 07:15:42 AM »
And thoughts on ABM? They tried to sell the company, but didnt get good offers. It's pretty much an option right now at 6 million. People with more knowledge on this know what is likely to happen next?

I thought they had some announcement that said equity might have no value.  I figure it is just going to be written off, or maybe it is a situation for Oaktree.

Edit:  Here's a link:
http://www.theguardian.com/business/2014/jan/27/pawnbroker-albermarle-bond-buyer-share-plunge
Quote
The pawnbroker Albemarle & Bond has scrapped an attempt to sell itself and declared that its shares could now hold little value.

kevin4u2

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Re: EZPW - EZCorp
« Reply #22 on: February 03, 2014, 08:18:03 AM »


Laxputs

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Re: EZPW - EZCorp
« Reply #24 on: February 10, 2014, 01:58:17 PM »
Levi & Korsinsky, LLP is investigating EZCORP, Inc. (NasdaqGS: EZPW) in connection with possible claims of breaches of fiduciary duty by the board of directors of the Company.


http://www.prnewswire.com/news-releases/shareholder-alert-the-law-firm-of-levi--korsinsky-llp-launches-an-investigation-into-ezcorp-inc-regarding-possible-breaches-of-fiduciary-duty-244758671.html

Anybody have any insights?  Is this serious or minor?

racemize

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Re: EZPW - EZCorp
« Reply #25 on: February 10, 2014, 02:04:58 PM »
There's no real details, so hard to know anything.  For many of the things going on governance-wise, I would bet they are close to the line, legally.

As long as it isn't fraud on the profitability, I'm not too worried.

Laxputs

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Re: EZPW - EZCorp
« Reply #26 on: February 11, 2014, 09:00:50 AM »
I contacted the law firm:

We are prepared to challenge certain related-party transactions entered into by the Company. In particular, we determined that over the last three years the Company  paid approximately $18 million to Madison Park LLC for advisory services. Madison Park LLC is a business and financial advisory firm wholly owned by Phillip E. Cohen, the beneficial owner of all of the Company's Class B common stock and who has majority voting power in the Company. The purpose of our investigation is to determine whether these payments truly benefit the Company or whether they are designed to simply divert cash to Mr. Cohen.

If you own shares you can authorize the firm to proceed on your behalf.

racemize

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Re: EZPW - EZCorp
« Reply #27 on: February 11, 2014, 09:36:39 AM »
I contacted the law firm:

We are prepared to challenge certain related-party transactions entered into by the Company. In particular, we determined that over the last three years the Company  paid approximately $18 million to Madison Park LLC for advisory services. Madison Park LLC is a business and financial advisory firm wholly owned by Phillip E. Cohen, the beneficial owner of all of the Company's Class B common stock and who has majority voting power in the Company. The purpose of our investigation is to determine whether these payments truly benefit the Company or whether they are designed to simply divert cash to Mr. Cohen.

If you own shares you can authorize the firm to proceed on your behalf.

Sounds about right.  Probably a good lawsuit to bring.

xtreeq

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Re: EZPW - EZCorp
« Reply #28 on: March 24, 2014, 09:17:43 AM »

yadayada

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Re: EZPW - EZCorp
« Reply #29 on: March 24, 2014, 10:20:32 AM »
Albemarle & Bond shares suspended after banks withdraw support for turnaround plan
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10718565/Albemarle-and-Bond-shares-suspended-after-banks-withdraw-support-for-turnaround-plan.html

that was some serious mismanagement there, jesus. Paying out dividends when they shouldn't , and the stupid overexpansion into gold buying. They were just gambling with shareholder's money really. It was all so avoidable.