Replies to post #46196 on Medient Studios Inc. (fka MDNT)

[Debbie777]

Well, if that quote from Manu's attorney is true (in Ritchey's article), it looks like there will still be a court case. I'm assuming that case will be to decide on the other 3 actions, which primarily deal with Jake's preferred shares and what Manu feels was a breach of the BODs fiduciary duties. To me, the ruling today was the most important. It allows the company to continue with the business. A lot can happen between now and next years court date.

[Helter Skelter]

This part was updated to the original article...

The Washoe County Court ruling lifts a temporary restraining order in effect since July 9.

Kumaran’s attorney, Jason Wiley, called the ruling a minor setback, but said he’s confident with the claims they have remaining. A tentative trial date is set for April of next year.

Wiley said they would’ve liked for a neutral third party to take control of the company, but the judge said doing so may push Medient into a more precarious financial position and put it in jeopardy of bankruptcy.

Both Kumaran and Medient’s new CEO, Jake Shapiro, attended Wednesday’s hearing in Reno, Nevada.