Thread regarding Windstream Corp. layoffs

Company seeks bankruptcy court protection to indemnify directors and officers in shareholder lawsuit

Windstream indemnified officer and directors against lawsuits for actions they take on behalf of the company. That is, Windstream agreed to provide a legal defense for these people and to pay any legal judgements they have to pay. This is standard policy at all companies.

Former Earthlink shareholders filed a class action lawsuit against Windstream, its officers and directors and Earthlink's former officers and directors about the deal they got in the merger.

Obviously, that Windstream indemnification is a problem in bankruptcy.

Bankruptcy automatically put the lawsuit against Windstream on hold. It did not "stay" (put on hold) the suit against the individuals, however.

Windstream is asking the court to stay the shareholder lawsuits against the individuals, too:

http://www.kccllc.net/windstream/document/1922312190405000000000027

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| 1171 views | | 2 replies (last April 7, 2019) | Reply
Post ID: @OP+Yr9KXCH

2 replies (most recent on top)

"Just wait until the books get opened and the years of number shaping comes to light."

Maybe they will have to 'restate' their previous earnings over a few math errors....

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Post ID: @1cml+Yr9KXCH

Just wait until the books get opened and the years of number shaping comes to light.

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Post ID: @1hnh+Yr9KXCH

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