The stock of Signature Group Holdings, Inc. (PINK:SGGH) may have gone into a spiral of decline, yet the last two consecutive sessions have shown vague signs of improvement.
SGGH stock has managed to keep its Wednesday level of $0.66 unchanged. Therefore, the only difference between the last two trading sessions was the volume. While in Thursday it ended up a little below the 50K mark, in Friday it skyrocketed beyond 419 thousand, marking a four-fold increase in comparison with the daily average trading volume.
Earlier this morning, SGGH filed a new 8-K form with the SEC. The Document revealed to the general public that the company had now brought an outstanding litigation issue to a successfull end. The issue dated from 2007 when six plaintiffs filed complaints alleging that Fremont General Corporation, SGGH's predecessor, had violated the Employee Retirement Income Security Act /ERISA/. The company expects to clean up its reputation once the District Court has approved the stipulation.
Given the circumstances mentioned above, it is no wonder that promoters have neglected SGGH for quite a while. So have iHub posters, at least for the last three weeks.
Signature Holdings, Inc. describes itself as a company specialized in providing a variety of financial services. The California-based company was founded back in 1963. Three years ago, the company filed for Chapter 11, which is the reason why no financial reports have been submitted recently. At present, the new management team claims to be working hard to get SGGH out of the OTC Pink limited information tier.
In the meantime, SGGH stock will most probably appeal to risk lovers. As soon as the company has gone transparent, it will stand a good chance of attracting more investors, too.