Sheryl, I cannot agree with you less. IMOO the management has been doing the right things for a company put into this position by its auditing company. Someone thought the "Peter Principal" didn't apply to them and they failed to follow FASB accounting rules. This has made available buying opportunities for me. When they announced the NYSE had extended their listing, and continues to do so, you must realize CIM made the case with them.
They continued to announce quarterly book value, which remains above share price. They have announced material changes in the dividend distributions -- earned vs ROC. They have put into place, in the 2011 10K the penalties the managers must pay for their mistakes.
I think they have protected themselves against lawsuits.
I'm not clear on what road they take from here, as there is speculation that they may come under the same umbrella as NLY with outside management in the future.
A company that is delisted, is not necessarily worth $0.
Good luck to you, and I hope you find a less stressful stock to own. :)
