A major reason for the company’s bankruptcy petition in November 2012 was an IRS claim for approximately $463 million in back taxes. Well, after today’s market close, the company disclosed in a SEC filing that the IRS had amended its claim. The new amount will now be for only $264 million. That should be a good reason for the stock to jump.
One can only assume that the latest SEC filing was the best-kept secret for the day.