Bally's has finally confirmed what alot of people have suspected for a long time: it is likely to go bankrupt. The company has little cash a mountain of debt and by not getting its filings in on time it is technically in default. Unfortunately it no longer has a market cap over $100M, so not alot of people will be getting in on this one in CAPS.
So Softbank (OTC BB: SFTBF.PK) is threatening to sue a brokerage and The Financial Times over less than flattering reports published last week. Having read The Financial Times article I thought it was standard, though interesting, reporting and I find it hard to believe that lawsuits, or even the threat of, are necessary. [more]