Posted By:
warshawlaw1. I LMFAO when I read this. 14,000+ bad certs? OUCH!
2. Just when you think the slime can't be any deeper...Couldn't happen to nicer guys.
3. Out of an abundance of caution I would urge people here NOT to send ANYTHING to PSA until this is all sorted out because the items may end up in limbo. $10.5 million is a heck of a lot of money for such a shaky company to have to pony up, and it is enforceable virtually immediately. An appeal bond for that verdict would be about $15 million plus appellate costs and attorneys' fees, and the bonding company would require PSA to post clear collateral equal to that sum. Absent a bond, the sheriff's collectors can be sent into PSA's offices to start stripping checks from the incoming slabbing items, their bank accounts can be drained, all property seized and/or liened, etc. This usually has the effect of either forcing a company to file a bankruptcy petition (which requires court approval to continue operations) or it throws a hell of a monkey wrench into their operations as they are stripped of cash. Regardless of what you think of PSA, the victims of this are likely to extend to anyone with cards there now or in the near future.