Just read TAUG's Motion for Trial by Jury, which was finally filed on March 31, 2017. Just a bit late! Recall, the original jury demand was an "inadvertent" late filing on January 10, 2017. The TAUG legal team had no documented excuse ("part of the time was during the Holidays") for the original late filing! Finally, the "official" Motion was filed with the court 87 days later, i.e. March 31! So much TAUG's crack legal team!
If the determination to allow a jury were to be based upon the documentation filed with the court, Cowan would win hands down! Its response to TAUG's 7-page Motion is 21 pages, with an additional 23 pages of Exhibits! Clearly, this whole process is going to be financially impossible for TAUG to do on a "pay-as-you-go" basis. Since Seth Shaw publicly announced the "pay-as-you-go" intention to the investors, there has not been an announcement suggesting this payment process has changed, i.e. being done on a contingency basis. Of course Seth Shaw does not want to "publicly retrench"; however, if the case is now being done on contingency, given the earlier "pay-as-you-go" claim, Shaw seems to be "ethically obligated" to provide the shareholders with an update, NOTING THE CHANGE!
It appears the judge's final decision, regarding a jury trial, is pretty open-ended. PACER did not show any "notes" regarding yesterday's Status Conference.
AI
