Think about it, most likely scenario is EDMC will NOT take this to trial. They will settle like they do with all their law suites. But lets say they meet half way at 6 Billion. Where are they going to get that money from? Their credit is shot!
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This lawsuit will get settled for pennies on the dollar. They can ask for $11B but will take whatever they can get. It's like a hot potato, no one wants to be the last one holding out for more when nothing is left. If they offered even $100M now the plaintiff would settle.
Let's be honest and realistic. EDMC knows that this lawsuit would be the end of their demise. You cannot get blood from a stone, and you cannot get 11 Billion Dollars from EDMC. It would be easier for them to go bankrupt or shut down. In the mean time, they will continue to drain the cash cow as much as they can.
That is a good point I was not thinking about. 1 Billion is nothing compared to them losing 11 billion. At this stage of the game, all their tricks to get it kicked out on a technicality have failed. They are up against the big boys now with more power and money. They are going to have to settle or fail in court.
A law Suit is like a Jail Suite, something EDMC will be wearing soon if they lose the 11 Billion lawsuit.
What is a law suite?
OMG are you kidding me? I got to see that email. Remember where you saw it?
When you have cartoons sent from management to ARs that say "2 more students signed up, that's more bling, bling in my pocket" as a training email. This is one piece of evidence with names attached to the emails from what I have seen on some website in the past. I saw that a few months ago. I think the case is going forward...lol
They are hoping the whole case will get kicked out on a technicality. So far, no luck.
It's not going to. The new owners will stall on the big law suites then sell it off as in bits and pieces as fast as they can. As the creditor, it's probably the smartest and quickest thing to do.