Should You Sell Corinthian Colleges Inc (COCO), Blue Earth Inc (BBLU), And Midway Gold Corp (USA) (MDW)?
New York, NY – GDP INSIDER – 12/30/2014.
Shares of at least three companies, Corinthian Colleges Inc (NASDAQ:COCO), Blue Earth Inc (NASDAQ:BBLU) and Midway Gold Corp (USA) (NYSEMKT:MDW), are struggling to find the way. These three companies have different issues to cope up with, but the common factor is investors’ wrath.
The company has struck an agreement with Bank of America Corp (NYSE:BAC) to amend its credit facility for the fifth time. The revised agreement allowed Corinthian Colleges Inc (NASDAQ:COCO) to sell some of it’s, as well as, subsidiaries assets. It plans to divest Everest Plus for which it struck a fresh deal with Bank of America Corp (NYSE:BAC).
In a filing with the SEC, Corinthian Colleges Inc (NASDAQ:COCO) said that of the total expected sale proceeds, 25% of them would be ear-marked to a reserve account that was created following a deal with the Education Department. All remaining amounts would be used for repaying the outstanding amount lying at its credit facility.
Blue Earth Inc (NASDAQ:BBLU) is facing a lawsuit of class action in the District Court of the Central District of California. The lawsuit has been initiated by Levi Korsinsky against Blue Earth Inc (NASDAQ:BBLU) alleging that the company has overstated the market potential of its product, UltraPower Stealth Battery Backup System. The law firm is fighting the case on behalf of investors’, who suffered losses in the counter of Blue Earth.
The law company also quoted an article in SeekingAlpha.com that appeared on October 21 stating that the potential market for the company’s UPStealth products was not workable. In fact, the article termed the products essentially as worthless one.
Recently, the company disclosed that William Zisch has taken over the position of President and CEO. He was also appointed as a Board member of Midway Gold Corp (USA) (NYSEMKT:MDW) while Ken Brunk has given his resignation.
The new CEO said that he has assumed the role at an exciting juncture. He said that he would gain full understanding of the operations, as well as, people in the next few weeks. Midway Gold Corp (USA) (NYSEMKT:MDW) CEO said that the coming weeks would guide him to establish a foundation for an update about the company in the New Year. Therefore, investors can look forward to an update about Midway Gold early next year.
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