Crystal,
No I have not read the entire complaint. However,I am not entirely unfamiliar with legal proceedings in general.
Sometimes, lawsuits are allowed to go forward,sometimes based on a "technicality" alone,rather than needing some standard of meritorious evidence as to the complaint itself.
WHO KNEW WHAT,AND WHEN DID THEY KNOW IT.(Subpoenas,discovery)In order to bring a suit...all expensive,and drawn out proceedings, that can harm a stock in the interim.
WAS lBSR management privy to certain information,if shared with the complainant in a timely fashiion,"could" have allowed the complannat to avoid a financial loss? "fair dealings"..etc..
Having "standing" to sue,is a complex issue for a judge to preside over. The average person would just say..oh well it's frivolous,however you will find that many frivilous lawsuits are allowed to proceed.
This is not a criminal case,standards of evidence to bring a cause,are quite different in order to "proceed" in a civil matter.
Civil standards sometimes can surprise,on how little it takes to be allowed to follow through on a suit.
Investors need to understand that each and every potential lawsuit has it's own merits,thay may not always be apparent on the surface.
There is no such thins as a frivilous lawsuit,until the judge says so. (then ofcourse the complainant can always amend thier original complaint, in order to eventually find a technicality, to be allowed forward)-The judge could dismiss the case with prejudice,then it's game over.
The complainant can assert "fraud",or a host of other allegations that can be allwoed to pursue,under the judicial assumption, that during the pre-trial,evidence can be expected to justify the ongoing suit.
I hope things owrk out great for LBSR legally,but I think not enough caution is being duly noted, by the average stock holder here,on the potential adverse effects, of a possible full blown lawsuit.
ALL IMO.
Good luck to all.
P.S excuse any typos,typing on an Iphone is ridiculous. :o
