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From my personal experience it's pretty much correct. We should have gotten our stock at around $12, that was the trade price at the time. We actually got personal control of it at $4.26. It was due to ALPA trying to sell it as a block. They got a little too cute for their own good.
They sold it at 21 a share!!!! There was a very small percentage of stock held back from the first sale because of law suits from some pilots over the distribution method. It was sold for less but was I think 5 percent of the total. There was really no option but to hold that small portion of the stock back. By the time the lawsuits were settled the stock had in fact dropped a lot in value.Originally Posted by orvil
Sailingfun said that this explanation was not correct. I respectfully disagree.From my personal experience it's pretty much correct. We should have gotten our stock at around $12, that was the trade price at the time. We actually got personal control of it at $4.26. It was due to ALPA trying to sell it as a block. They got a little too cute for their own good.