Comments on Ruling:
Two issues and a possible action were intertwined into one case. Judges sometimes will separate the issues out into separate cases.
In this case issue one was the default in payments with a possible action of eviction and reversion of assets.
Both parties have agreed and apparently are bound by contract to resolve that issue via the instructions in the contract between them.
Issue two: Slander and defamation and contractual interference. (The absence of their mention in the release is meaningful although there appears to be an allusion).
The issue of default and eviction have been decided. Both parties agreed to resolving the dispute according to the terms of thier own contract. As for the Possible Action, no one is immediately being evicted nor is there a reversion of assets pending.
What about the allegations of defamation, contract meddling etc?
They apparently can still be brought against the defendant. See highlighted areas in green.
Seeing that these charges are open, it's as if the Judge is saying "Go settle the issue of default first. Then bring these other charges to court."
So is this thing over? I doubt it. Remember the judge did not throw this out. ADSV withdrew. I think in light of the news they will use the open charges as leverage to settle, or persue it as a separate issue.
Thats my opinion. Personally, I believe this case will not have any winners or losers. When its done and business can carry on as usual, then the share price will likely rise again as ADSV increases revenue.
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ASII PUBLIC NOTICE
FARMINGDALE, NJ – APRIL 22, 2011 - On April 19, 2011, Allied Security Innovations, Inc., (ASII) requested Judge Stanton of the Federal District Court for the Southern District of New York, to voluntarily withdraw its suit against CGM Security Solutions, Inc. (CGM-SS). The Court granted the request. The case was dismissed and the court ruled that CGM-SS was free to pursue the contractual obligations defining default in an agreement with Investors in ASII. The Court also ruled that some components of ASII’s claims against CGM-SS may be invoked in subsequent proceedings.
The Purchase Agreement and the Investors Agreement define the process in the default, and ASII will continue to protect its shareholders, customers and investors according to the agreements and as ordered by the court.
The Allied subsidiary, CGM-AST, along with its manufacturing facility remains fully operational, along with all other corporate functions.
AI
