JNS Holding Corp (JNSH)

[xelandor]

Background on court case

350green negotiated the sale of the charging network to 2 parties(JNSH/CCGI) at the same time (the charging network is worth 3MM)
2013: Judge Elaine Bucklo ruled that JNSH owns the network and orderedCCGI to deliver the network to JNSH
2015: Former executives of 350green indicted for defrauding the state of IL by receiving 1.9m in grants to build car charging network but through fake invoices took money and didnt build anything
2013 till now: CCGI been fighting Judge Bucklo ruling stating that CCGI bought only assets of 350green but none of the liabilities of 350green. Judge B ruled that it doesn't fly and hence moved into trial/ settlement for damages

Situation now.
Court documents leaked that settlement has been achieved. A docket was released to remove the term settlement from the previous docket.
If it doesn't settle, it's going to go back to Judge Bucklo and she has already ruled in favor of JNSH

Useful links
Brian buying the network
http://gas2.org/2013/11/07/chicago-electric-car-charging-stations/


Chicago tribune write up on case background
http://articles.chicagotribune.com/2014-05-05/classified/ct-charging-station-update-0504-biz-20140504_1_chicago-auto-show-stations-jns

Judge Bucklo Ruling awarding JNSH the network
http://www.prnewswire.com/news-releases/jns-power--control-systems-to-receive-title-to-350-green-llcs-chicago-project-assets-229155161.html

350green indictment

https://www.justice.gov/usao-ndil/pr/two-executives-indicted-scheming-defraud-chicago-and-other-governments-grant-funds

CCGI acknowdgement of the award to JNSH in their 10q and the settlement discussions

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=11319024-175295-185900&type=sect&TabIndex=2&dcn=0001493152-16-008914&nav=1&src=Yahoo