Replies to post #48241 on Calissio Resources Group Inc (CRGP)

[janice shell]

I suggest you reread the documents in the case, with special attention to the judge's final statement on the case, and the discussion of it here.

The company was not obligated to have those shares under a new CUISP.

But it should have done so. And when the company ordered the TA to issue those shares as free trading, it specifically told the TA to use the old CUSIP. And that is what caused the problem:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136016740

The problem was that everyone involved made mistakes that should not have been made. But the business of the CUSIP explains why DTCC charged COR $4 million, and Alpine nearly $1 million. I wondered for a long time why no one was suing DTCC, and that accounts for it.

DTC enforced the rules but any disagreement in the conditions had to be resolved by a court. It went to court and judge found COR and the noteholders at fault. Went to appeals and same thing.

No. That wasn't the issue. First of all, Calissio itself was found liable by default pretty early on. It defaulted because it was never represented, and never made an appearance in court. Same for "Adam Carter". COR was pretty certain that no one else would show up to represent the company and made them whole, so it tried various increasingly desperate strategies to get its money back. (Despite the fact that it did apparently get some of that money back from its clients Beaufort and Nobilis.)

The ruling to which you refer is what resulted from COR's last pointless claims, which it lodged against Signature, the transfer agent, and the "broker clients", who paid the dividend to their clients who owned Calissio stock. The ruling affirmed (and repeated) the lower court's earlier decision.

However, neither the district court or the appellate court found COR liable for anything. It simply didn't grant COR the relief it sought.

At that point, COR gave up. But Calissio itself was found liable, and should it ever reappear, COR would seek to have that judgment enforced.

[onehundredmph]

Thank you Discovery for clarifying the historical facts of this stock. False and Misleading Statements will surely continue...

$CRGP