The Black Mountain hearing went off as scheduled on Nov. 9. Here is the order
and explanation:..thanks
11/10/2011 13 ORDER: That plaintiffs motion for a preliminary injunction and for preliminary declarative relief is GRANTED. Defendant Advanced Cell Technology, Inc. ("ACTI") shall deliver immediately eighteen million (18,000,000) shares of its common stock to Plaintiff Black Mountain Equities, Inc. ("BME"). BME shall place all proceeds from the sale of ACTI stock into an interest-earning client escrow account held by its counsel, Olshan Grundman Frome Rosenzweig & Wolosky LLP, pending further order of this Court or agreement between the parties. BME shall provide ACTI on a weekly basis with trade confirmation documents showing the proceeds collected from any such sales. BME shall not be required to post a bond. (Signed by Judge Paul A. Engelmayer on 11/10/2011) (ft) (Entered: 11/10/2011)
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
BLACK MOUNTAIN EQUITIES, INC., Plaintiff,
-v-
ADV ANCED CELL TECHNOLOGY, INC.,
Defendant. ----------------------------------------------------------------------_.)(
PAUL A. ENGELMAYER, District Judge:
11 Civ. 7305 (PAE) ORDER
On November 9, 2011, the Court held a hearing on plaintiffs motion for a preliminary injunction and for preliminary declarative relief pursuant to Federal Rule of Civil Procedure 65 and 28 U.S.C. § 2201.
The Court has reviewed plaintiffs complaint, plaintiffs memorandum of law in support of its motion for a preliminary injunction and for preliminary declaratory relief dated October 27, 2011, the declaration of Adam Baker dated October 27, 2011 and exhibits annexed thereto, defendant's memorandum oflaw in opposition to the motion for a preliminary injunction and for preliminary declaratory relief dated November 7, 2011, the declaration of Gary Rabin dated November 7,2011 and exhibits annexed thereto, and the arguments presented during the November 9, 2011 hearing.
For the reasons stated on the record of the hearing, IT IS HEREBY ORDERED:
1.
That plaintiffs motion for a preliminary injunction and for preliminary declarative relief is GRANTED;
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Case 1:11-cv-07305-PAE Document 13 Filed 11/10/11 Page 1 of 2
2.
That defendant Advanced Cell Technology, Inc. ("ACTI") shall deliver immediately eighteen million (18,000,000) shares ofits common stock to Plaintiff Black Mountain Equities, Inc. ("BME");
3.
That BME shall place all proceeds from the sale of ACTI stock into an interest-earning client escrow account held by its counsel, Olshan Grundman Frome Rosenzweig & Wolosky LLP, pending further order of this Court or agreement between the parties;
4.
That BME shall provide ACTI on a weekly basis with trade confirmation documents showing the proceeds collected from any such sales; and
5.
That BME shall not be required to post a bond.
