Slow in responding. Busy weekend. Busy family time. This first legal step was the removal of Greg Halpern as the MAXD CEO by the court to stop the corporate bleeding, which was the post-judgement relief requested by the Vechery legal team. Once that was achieved, the legal team then moved on to the next steps in the process, which are still in progress. Everything has been complicated by the behind-the-scenes scheming of Greg Halpern, as well as the financial, legal, and reporting condition Halpern left the company in before he was terminated, the process has been elongated due to these issues. Especially due to Halpern's recent legal threats on his websites. This elongation process apparently includes the Expert Market issue, which Halpern admitted placing MAXD there on purpose, and complex OTC pathway issues, the SEC non-filing for three quarters issues, shareholder complaints filed with the SEC issues, potential DOJ issues, charter, patent, trademark, and delinquent tax issues. All combine to complicate the slow-moving process.
As stated in the Final Order court ruling, “The allegations in the complaint and supporting evidence submitted with the motion for default judgment establish that Plaintiff is entitled to an order removing Halpern as a director of Max Sound, as well as attendant permanent injunctive relief to stop Halpern from using his majority voting power to re-elect himself or a proxy into the directorship of Max Sound.” The court ruling also stated, for a reason, that “defendant Halpern, and anyone acting in concert with him, are permanently enjoined and restrained from, directly or indirectly……. Serving as a director of Max Sound for a period of five (5) years.”
That statement has been interpreted to mean that Halpern cannot use his voting control to appoint anyone “acting in concert with him,” which would include the “stooge” individual you referenced. As to the additional questions, I’m sure Harvey Vechery will issue a PR as soon as the legal team notifies him to do so. I think all shareholders would love to hear who is taking the helm, but we will all have to wait for the PR. As to overdue filings, MAXD is already three quarters behind due to Greg Halpern and that is one of several issues the SEC attorney is apparently dealing with.
