Calypso Wireless (fka CLYW)

[Cougar6]

Suing the Lawyers.

If there is one issue that clearly delineates those parties who have the company’s best interests in mind and those that have another agenda it is this recent complaint about board members threatening to or actually suing company attorneys.

If an attorney does anything that results in harm to the company including taking our money to either provide inadequate or legally inaccurate advice then the company should be taking action against them. At a minimum that includes demanding the money we paid them back. It has happened at least once if not twice. The first time being the apparently inaccurate advice given by Buchalter Nemer in regards to the California action; advice apparently so bad that they had to withdraw from the case. The second being Storm’s pronouncement that we could not win in state case. A statement made at a forum that Markle would not participate in and even Buchalter Nemer opined was probably illegal and could open the company up to litigation. It is possible that Storm's statements could be part of the reason we cannot get a deal with Diac. If either or both of these actions by company paid attorneys hurt the company than the company should be taking legal action against them.

The fact that company management is not taking action against them demonstrates that they have a different agenda. The fact that a independent board member is threatening action against at least one of them shows that he does have the company’s best interests in mind.

Again, just to be clear, it should have been management suing the attorney’s at least to get our money back. It should not have been left to an independent director to take action.

This is only the most recent indication that we have seen that management is not interested in the best interests of the company and has a separate agenda.