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If they settle out of court, I don't think GS will get the fees. He'll only get the fees with a judgement in his favor.
Exactly. Which means he will not settle for the $25k he initially sued for. I don't believe he has filed the motion for attorney fees yet. Essentially, he sued for $25k, and now refuses to settle for $25k.
I think Sharp already posted a tweet that he's not settling.
The only way they'll get the info is through the courts. Especially if there is an NDA. Same with shareholders.
It's pretty sad that the patent creators felt compelled to sue, and clearly there are still some who feel shareholders should just sit back and wait... for something... IDK.
Well, they have more information than we have. It could very well be they were given the correct amount.
CBV, LLC is the patent creators. I have no idea what it stands for.
I believe they also stated at one point that Raskin called them and shared the settlement amount with them. Which is why they feel they were short changed.
Yet, people are stilling listening to that nonsense...
Carter, Leane and CBV all know the settlement amount. Shareholders are the only group left out in the cold, not mentioned anywhere in the various suits between the 3. The only way shareholders are going to be treated fairly is to have legal representation. Bottom line.
I've done some research as well. You do realize the college admissions scandal was blown open by a penny stock CEO who was sued for fraud? He bargained with the FBI for a lighter sentence and gave them the info on the college admissions scandal. Even Bernie Madoff's customers recovered most of their funds.
But it's nice that a majority of the shareholders get a free ride at the expense of a few.
No. You mentioned the inventors. We should wait until the outcome of their suit, and "if they lose, we have no shot." Their suit basically supports Dierdre's.
I'm curious, Zomby, why you have been insisting that we sit back and wait for CBV, Dierdre and Carter to work everything out? You realize shareholders are not mentioned anywhere in any of their lawsuits, right? How will any of the judges in those cases know that there are additional shareholders out there, besides Carter and Leane?
Also, according to you, after speaking with the patent creators last fall, Dierdre was the problem and Carter would be our savior. So why is CBV suing Carter and not Dierdre?
Hundreds of thousands of dollars and countless hours have been spent by a few shareholders (12 or 13) to protect the interests of 169 shareholders who are not represented in Dear Dierdre's or CBV's lawsuits to solidify shareholders' position with the courts.
There are just so many things so wrong with your post. Lol. If Dierdre wins the arbitration, CBV will get a larger payout.
The Dierdre arbitration can be contested when it's filed with the courts. Of course, it can only be contested if we have representation. You see, lawyers are working.
I wouldn't say they have done "absolutely nothing." Clearly you can see there are filings in the Superior Court. I'm not sure any other firm would have been able to do any more for us at this point. And the only other two firms willing to take our case wanted $800 an hour (smaller firm) and $1100 an hour (national firm), so the fees would be "several hundred thousand dollars" by now. I tried to emphasize the costs involved with legal counsel, and the costs of accounting firms (they charge roughly the same hourly rates as lawyers). I've worked for both in the past.
So far, most of that "couple hundred thousand dollars" has come from about 7 people, so I'm really not sure the rest of us can complain too much.
I guess there are a lot of people who don't think so.
Whether or not legal keeps getting funding is a problem as well. Seems not many want to or can pitch in for fees.
In three weeks? That's nuts. A merger would take at least 90 days.
Everyone dumped because they thought it should have been finalized and done in 3 weeks, 2 of which were holidays. Even without the pending litigation, it wasn't going to happen in a matter of a few weeks.
According to George Morgan, the deal is still on the table.
GM can agree to indemnify the merging entity, but that doesn't necessarily preclude GS from going after them, and lawyers are not cheap. Who wants a shell with fickle investors that is in litigation? I haven't read GS's filings, but I get the impression he convinced them to hire him as a consultant, then attempted a hostile takeover of the company.
Could take the target company that until June to find another shell and close the deal anyhow.
I think the share retirement is still pending in the courts as well.
Courts have been backlogged since the Covid shutdown in 2020. It normally takes weeks to draft filings (lawyers do extensive DD), and months (3 to 4) to get a court date for civil cases pre covid -- it has been taking 5 or 6 months since Covid. The meeting with the merger candidate was just a few weeks ago. I'm not sure why everyone thought this was going to happen within a month.
I see there were loads of buyers taking advantage end of day, though.
Generally, the merging company pays a premium over the share price. A bargain at this price...
Or, you could just buy some cheapies. Looks like buyers are coming in, from what I can see on the chart - my level 2 seems to be stuck. Still showing INTL on the bid at .008.
Those shareholders made a choice. It's a bit early in the year for me to be taking losses.
It takes awhile...
He said the merger was still on. Typical stinky pink traders, shoot themselves in the foot when they don't get instant gratification.
If that's the case, I'm cancelling my subscription. I'm right on the verge anyhow...
It's scandalous. INTL has been sitting on the bid at .008.
But why sell at .0068 or .007 if the bid is at .008. Don't brokers have a fiduciary responsibility to get shareholders the best price?
Anyone else see what I'm seeing on level 2? The bid has been sitting at .008, but MMs are dumping it down.
I've called Billy all kinds of things. You wanna hear them?
Probably a good thing. Did you happen to read Carter's response to Leanne's complaint? There's at least one glaring red flag in there that indicates Carter was complicit with Dierdre's intentions in 2015. I'll let you find it. Her complaint has myriad accusations incriminating both of them in a conspiracy to defraud shareholders and the patent creators.
I've read Carter's response to Deirdre's complaint, and there's no mention of shareholders. Dierdre's complaint mentions only 2 shareholders. Tonyjoe isn't mentioned.
That seller at .0186 needs to break it up. Sheesh.
I Agree. Carter was an "employee" of Chanbond. The only reason he convinced Leane to bring Chanbond to UOIP was to enrich himself. He never intended for any shareholder participation. And Leane was in on it from the beginning.
If he used the money for his personal expenses and didn't report it as income on his returns, since he wasn't planning on paying the loans personally, but promised to pay out of UOIP/Chanbond settlement proceeds, he may have a problem with the IRS.
I haven't seen the contract with Bentham. Dierdre Leane signed the contract. And her complaint about the additional funds borrowed from Bentham in her request for TRO specifically states that Carter "amended" the contract. So I'm guessing the initial contract was for a "loan" and not a "line of credit" and didn't allow for additional withdrawals.
And if Carter didn't claim the funds from additional loans as income on his tax return(s), he could be prosecuted. In fact, I believe co-mingling of funds I'd a prosecutable offense anyhow.