FormerXBC Inc XEBEQ

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Xebec Adsorption Inc designs, engineers, and manufactures products that are used for purification, separation, dehydration, and filtration equipment for gases and compressed air. The company operates in three reportable segments: Systems, Corporate and other, and Support. Its product lines are natural gas dryers for natural gas refueling stations, compressed gas filtration, biogas purification, associated gas, engineering services, and air dryers. The company's geographical segments are United States, Canada, China, Other, Korea, Italy, and France.

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FormerXBC Inc > Today was "quad-witching" options expiration day

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Comment by Gann999on Sep 16, 2022 9:45pm

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Post# 34968531

RE:RE:RE:RE:RE:Today was "quad-witching" options expiration day

Fair enough and I am very aware of the lawsuit and particulars you are speaking about and regardless of the accusations made in the lawsuit xebec is not going to admit they misled investors about the financials and they have insurance for these type of things. Plus for all I know it's been settled they have mentioned legal settlement costs a couple times now but that could also be settlements for customers regarding legacy. Anyway if you read the lawsuit it's a handful of investors with not a ton of shares so you aren't talking millions and millions of dollars.

ferret_ca wrote: "hygear signed on the dotted line nobody forced them."

yup but according to this class action lawsuit by Lex group there could be some issues on what the actual financials were when the deal closed.

"The proposed class action alleges that Xebec and the individual respondents made misrepresentations by overstating Xebec’s revenue and made false representations regarding its revenue accounting practices, and the fact that Xebec maintained proper internal controls to ensure that its financial statements were reliable and free of material misstatements."
the the dates involved seem to include the date the hygear purchased closed.
"who purchased or otherwise acquired Xebec’s securities between November 10, 2020 and March 11, 2021 inclusively (hereinafter the “Class Period”) and held some or all of such securities as of the close of trading on the TSX on March 11, 2021."
https://www.lexgroup.ca/classaction/xebec-adsorption-inc-securities-class-action/
https://xebecinc.com/news/xebec-completes-transformative-acquisition-of-hygear/

anyhow I have no idea if this lawsuit is still pending (it was for shareholders who bought and held thru that time period) or if it has been dealt with or what the situation is, or if these allegations are true or not, however, IF there is anything to it, then hygear signed on the dotted line while the financials weren't what hygear looked at. I'm not making any accusations whatsoever, just pointing out info that is out there that some people tend to ignore or are not aware of.

cheers ferret