Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:surprise dividend?

[mrbb]

Scottie99 wrote: Dogs, excellent post in respect of what is really going on and looks like you have been busy doing your due diligence. I would advise everyone to do same because it is how you can maximize loss recovery when the lawyers become involved!

My only reservations is that the company cannot claim they were not aware of the material information in 2015 and that investors suffered no loss from then if the stock does not take a big hit when the $hit become public. The fact that the BOD stripped the assets of the company for LKS as the majority shareholder in 2015, about the same time they are aware they are under investigation should be intriguing for the Lawyers when they get hold of all the facts during discovery. Since LKS owns 70% of the about 1 billion ordinary shares outstanding, it is the 30% minority shares that would be at play in a class-action lawsuit. I doubt if LKS would be part of the class-action lawsuit because the 65% of the mid-stream assets he has been enjoying would come into play, since minority shareholders did not vote for it as required by Ontario Securities Laws as at 2015.

Good that you wrote the company for comments on the regulatory investigation and it is fine they did not respond. Keep that e-mail for the Lawyers, they know what to do with it. The more letters there is from minority shareholders, the better. Let them keep playing ostrich with shareholders funds, the Lawyers would have a field day for non-disclosure. Shell as big as they are, self-reported their reserve fraud in 2002 and still got slammed with $US120 million by the SEC. Self-reporting is considered to show you co-operated with the Reguators and so the fines are reduced compared to when the regulators have to dig deeper when you have been caught red-handed. Interestingly, the ASC just recently released the following for self-reporting and co-operation in enforcement matters:

https://www.albertasecurities.com/news-and-publications/Pages/customdisp.aspx?pi=1654

https://www.albertasecurities.com/Regulatory%20Instruments/5372966-v1-Credit_for_Exemplary_Cooperation_in_Enforcement_Matters_Policy_Eff_October16_2017.pdf

Dogsbreakfast4U wrote: This is what i wrote on this board on December 14, 2016: "If I were management (and there is something behind Scotties long term assertions) I would make sure the stock price stays as low as possible for as long as possible so as to make the stock grossly undervalued when the news comes out. This is what management has done brilliantly through various surprising measures since 2015. When the news of an investigation finally comes out(if it does)management will try to minimize the impact, say that they have cash to pay the fine and that it does not materially affect the ''vitals'' of the company. As a result the stock price will likely not change much and if so only temporarily (being already grossly undervalued). By then oil will be $60 and Husky will still trade well below its peers. A potential class action suit requires a loss for the investor resulting from the withholding of information and subsequent disclosure (see Penn West)https://www.strosbergco.com/class-actions/pennwest Here Husky will argue that investors have suffered no loss as a result of the withholding of information and subsequent disclosure. Brilliant!That is my theory and have a feeling we may get news on this sooner than later"". I was wrong on the sooner than later part but something smells too plain bad now. Whats also interesting and frankly bizarre is that TD came out last week to say that at 16$ the stock price already reflect the reinstatement of a nominal dividend because it has performed 5% better than its peers in the last month!!!. What they purposely failed to mention is the fact that the stock has been trading at mimus 50% in relation its peers since they eliminated the dividend. When you read assinine reports like that you know they are on to something or they are out for revenge after being blindsided with the strange and unnecessary elimination of the dividend Just to be on the safe side I wrote to the company for comments many months ago on the allegations regarding a possible regulators investigation. As expected I did not receive the custody of a response of any kind.

yo scottie, I know Halloween is tomorrow but stop scaring board members with shell and pennwest fraud charges levied by SEC as being analogous to husky's sale of their midstream asset 1.5 years ago. Shell and pennwest lied to SEC. You might not like the sale price of husky midstream but it wasn't at fire sale price or hid term and condition from investors and TSE.