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I'm sure PIs will read the court document and make their own mind up. It's their money.
Q3 results next month should hopefully provide some clarity. That may lead to PIs loading up or dumping.
If there is a huge impact and I believe any court case damages reputation and can take months to settle.. If there is a rush to exit:
PIs are always last to learn about a pending disaster and by the time you eventually do know, the market makers will have the sp marked down to the floor already. Suddenly you are trying to get rid of your holding from a very low base but even then, the Market Makers won’t give you a price for large amounts of stock. You keep trying to get rid of smaller and smaller chunks as the marketprice continues to collapse before your very eyes....
As I've previously stated with blnx/rthm, in 2014 the eq sp crashed from £28 to 400p within 6 months, based on events.
In 2017 the eq sp fell from 590p to 100p based on events. In 2019 trmr took over rthm and 6 months later they published a profit warning...
The fact Tosca were selling 6 months ago, together with the filing of the court case and timing of the IPO and discounted placing, says to me that the concerns/red flags had been known about for months.
Best to trade and not get caught out again.
I am reading a lot of attention directed to the Alphonso case here (and elsewhere).
stt1 is having a 'hay day' playing with everyone's opinions.
Yet another example of the nuisance-value of his insinuations.
Tremor would not decide to list in the U.S. because of a spat with a company that would lead to a discount placing.
That is absolute rubbish!
According to the court document, apart from the substantial loss in business, trmr claim their reputation has also been tarnised and their salesman are at risk...
There's more to this than just the financial loss and could go on for months...
The Q3/Fy results should be interesting...
From the court document:
"12. As a result of Defendants’ misconduct, Tremor has already lost substantial
business dependent on the LGE viewership data and is continuing to lose such business, which Tremor would have retained and/or obtained but for Alphonso’s and LGE’s wrongdoing; Tremor’s reputation is being irreparably tarnished; and Tremor’s highly-trained salesforce is at risk."
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=5yQBD0QoQffyn29kXpficw==
And before anyone says there's no statement from the company.
They have been in the 'quiet period' for over a month. The document is dated 13th October. I think they couldn't say anything because of the quiet period, part of being listed in US.
I would suggest all genuine posters to have a read yourself and not rely on what the rampers are saying ... They are pulling the wool over your eyes...
As previously commented, I think the Alphonso court case was the reason behind the rush to list and the discounted placing..
Trmr have lost substantial business and IS CONTINUING to do so... Might explain the need for the discounted placing...
From the court document:
"12. As a result of Defendants’ misconduct, Tremor has already lost substantial
business dependent on the LGE viewership data and is continuing to lose such business, which Tremor would have retained and/or obtained but for Alphonso’s and LGE’s wrongdoing; Tremor’s reputation is being irreparably tarnished; and Tremor’s highly-trained salesforce is at risk."
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=5yQBD0QoQffyn29kXpficw==
stt1,
You come across as person who enjoys being a complete dick.
"I'm sure that given the court docs are available some posters will now claim that it was, somehow all known to them, nothing to worry about, whilst they themselves sell down their holding."
There you go, months of trying to persuade everyone to ignore me and the Alphonso court case and now the docs are out, the court case must be mentioned.
As predicted, the IPO and discounted placing so soon after the Alphonso dispute started wasn't a coincidence.
This has a lot further to run...
As expected, the impact of the Alphonso court case won't be known for months.
As previously stated, there is a history of court cases/placings.
Rthm(now trmr)/Dataxu
Trmr/Uber
Best to trade and not get caught out again.
;-)
Alphonso court documents...
Further to my previous posts on trmr filing a court case against Alphonso. I previously commented that I believe there was a sudden need(change of mind within 6 days) for trmr to list in March, when the Alphonso dispute was going on.
Further:
1) they needed the discounted placing.
2) the impact of losing Alphonso, their data provider, won't be known for months, especially before H1 results
Court documents:
Https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=1poTEO0N2dfh0Pl4VvMOdA==
Https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=j/MKa5jKQOiZ2rhRcKfwfw==&PageNum=1&narrow=
I'm sure that given the court docs are available some posters will now claim that it was, somehow all known to them, nothing to worry about, whilst they themselves sell down their holding.
Obviously if they mention the court case without selling down beforehand then if there is a rush for the exit they won't be able to sell. It will become difficult to sell large quantities at a time.
I think it's best to trade and not get caught out again.
My 844p pre-IPO still looking good.
;-)
From trmr themselves - accelerated their own solution because of losing Alphonso:
I don't think the impact of losing Alphonso will be known for months.
What they said in their fy2020 results.. on 10th March was:
"TV intelligence solutions
The Company’s ongoing strategy relating to connected TV (CTV) and addressable TV retargeting continues to evolve, with clear value now attributed to Tremor’s end-to-end platform further strengthened by the upcoming introduction of our enhanced suite of TV intelligence solutions which was accelerated by LG’s acquisition of Alphonso and the winding down of Alphonso as an exclusive technology partner of Tremor."
https://investors.tremorinternational.com/static-files/6a54a5d7-953b-4fba-b8a6-bbf5c3945d0d
16th March, they announced the IPO!
https://www.tremorinternational.com/wp-content/uploads/2021/03/TRMR-Submission-of-Confidential-Draft-Registration-Statement-for-Proposed-Offering-160321.pdf
Then 25th May:
SUBSEQUENT EVENTS
On May 18, 2021, Tremor Video, Inc. (“Tremor”) filed a complaint against
Alphonso, Inc. (“Alphonso”) in the Supreme Court of the State of New York,
County of New York. The claim is for breach of contract, tortious interference
with business relations, intentional interference with contractual relations,
unjust enrichment, and conversion. The lawsuit arises out of Alphonso’s breach
of a Strategic Partnership Agreement and an Advance Payment Obligation and
Security Agreement (“Security Agreement”) with Tremor, along with related
misconduct. Tremor complaint is for damages and other relief, including an
order foreclosing on Alphonso’s collateral under the Security Agreement, from
the Court.
https://investors.tremorinternational.com/static-files/a54c68fb-6ca0-4136-ae96-40ba4eba5875
That tells me there was a sudden need to list with days of the fy results being published, timing which coincides with the alphonso dispute.