Originally Posted by
Noisecanceller
The JetBlue offer was the better offer and had the same chance of approval as the frontier deal no matter what Ted said to the shareholders. It was Teds ludicrous testimony at the trial that scuttled the entire thing. He lied under oath saying we had a viable strategy as a stand-alone company.
From what I understand restructuring via chapter 11 is legally considered a viable strategy. Chapter 7 isn’t. He isn’t required to disclose that the only viable strategy is chapter 11, only that a viable strategy is available. So no, he didn’t lie under oath.