MyECheck, Inc. (fka MYEC)

[binford04]

Don't create words that aren't there. The gist of the defense was:

Even assuming the truth of Mr Maciora's allegations related to GreenPay, there are no facts suggesting that: PMB was aware of the alleged transactions at the time of the audit; that the transactions were, or would have been, relevant to PMB's audit; that the transactions were not, in fact, accounted for; and/or that the omission of the transactions from the Form 10 or financial statements was material, ie, that any investor would have considered them in deciding to purchase stock.

tl:dr he can't prove we knew about this, he cant prove we didn't know about this, he cant prove that if we did/didn't know about it that shareholders would care

It's a great defense to a suit that had no chance from the start. Based on this defense the judge doesn't even need to delve into the details of the accusations.