Innovation Pharmaceuticals Inc (IPIX)

[kfcyahoo]

Here is Judge Faila’s direct quote, ctix, now ipix, was in no way absolved, based upon my interpretation. In my opinion, she wrote a poor concluding argument(she left it neutral).

“
After winning a ruling in June 2016 dismissing the fraud claims, Cellceutix asked the judge to fine Rosen Law Firm, arguing that its attorneys had failed to adequately investigate the claims before rushing to the courthouse.

U.S. District Judge Katherine Polk Failla rejected that argument in Wednesday’s ruling. She said that while the claims in the suit lacked merit, they were “not indefensible.”

After winning a ruling in June 2016 dismissing the fraud claims, Cellceutix asked the judge to fine Rosen Law Firm, arguing that its attorneys had failed to adequately investigate the claims before rushing to the courthouse.

U.S. District Judge Katherine Polk Failla rejected that argument in Wednesday’s ruling. She said that while the claims in the suit lacked merit, they were “not indefensible.”

“The court understands defendants’ frustration at having to defend against a class action lawsuit that proceeded from, and perpetuated, ominous reports about Cellceutix’s long-term prospects for survival,” the judge wrote. “The fact that it was able to do so successfully does not mean, however, that it is entitled to sanctions from plaintiff or his counsel.”

WHY NOT

Jmoo