Revlon tells bankruptcy judge its shares may be worthless

The committee representing unsecured creditors also asked Jones to reject a shareholder committee.

“Revlon stock trading has all the outward appearances of a so-called ‘meme’ stock,” the committee said in its objection, referring to shares that rise in value only because of Internet chatter, not economic reason.

Revlon shares tumbled as much as 34% to as low as $5.62 Monday before rebounding to around $8.22, leaving them down some 3% on the day. That price is up from as little as $1.17 in June.

Nearly all official committee are appointed by the Office of the U.S. Trustee, an arm of the U.S. Justice Department that acts as a watchdog in corporate bankruptcies. In the Revlon case, the office appointed the unsecured creditor committee, but last month rebuffed the shareholders.

The shareholder group, which says it owns 4.7% of Revlon’s common stock not held by insiders, asked Jones on Aug. 9 to order the U.S.Trustee to appoint a panel. On that day, the shares closed at about $8.

Forcing Revlon to fund lawyers and other advisers for a minority group of shareholders would be a waste of money, the company said in court papers. Official committees have the fees of

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Former Mark Meadows staffer Cassidy Hutchinson hires new attorney ahead of public Jan. 6 hearings

Cassidy Hutchinson, a member of Mark Meadows’ staff when Meadows was Donald Trump’s chief of staff, has hired Jody Hunt to represent her as the public Jan. 6 hearings begin, a source familiar with the matter confirmed to ABC News.

At the start of the Trump administration, Hunt served as chief of staff to then-Attorney General Jeff Sessions. Hunt later became the head of Department of Justice’s Civil Division.

Members of the House committee investigating the Jan. 6 Capitol attack are actively negotiating with Hutchinson for her public testimony during the upcoming committee hearings, sources with knowledge of the matter told ABC News.

If Hutchinson agrees to appear publicly, she will put a voice to many of the interactions involving Jan. 6 that have been reported publicly, and offer significant insight into Meadows’ actions and interactions with the former president on Jan. 6 and in the days before and after, the sources said.

During earlier depositions with the committee, Hutchinson confirmed to committee investigators accounts that Meadows had burned documents in his office, according to sources.

It was not immediately clear the contents of what Meadows is alleged to have burned, or whether his actions as described by witnesses constitute

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