FYI, what this means is that GTEM will file a motion to dismiss rather than answer the interrogatories in the complaint. This is a very common way of "buying time" in Federal court. Should gtem's motion for dismissal be upheld after the plantiffs motion of opposition the lawsuit is over. Should the courts deny the defenses motion for dismissal they would be given a further 30 days to answer the complaint and the lawsuit will move forward to a jury trial unless a settlement is reached (likely if the dismissal is denied).
Let's take a poll ? who thinks the dismissal will be upheld ?
who thinks the dismissal will be denied ?
I feel that the amex's recent release give further credibility to the complaints however the SEC's investigation will carry the most weight in this complaint. I wonder if gtem is waiting on the completion of the investigation to file the motion to dismiss ?
While I know this will make some happy, gtem may well know the end result of the sec investigation at this point and is waiting on it to go public prior to filing the motion to dismiss, otherwise that motion would have been filed immediately after consolidation. This also may well mean the the sec investigation in very near completion either way and gtem may well NOT know the results and are waiting for them prior to filing an answer since in the continuance notice globetel only states an INTENT to file a dismissal.
This is very interesting.
Remember that overlypromotional and hype statements from individuals and companies are illegal. If you feel investors are being "rooked" contact the SEC.
AI
