What are you talking about see below:
Here is the chronology of the lawsuit:
December 1, 2022 NWBO filed the lawsuit. It is being represented by the highly respected Cohen Milstein law firm.
April 10, 2023 NWBO filed the First Amended Complaint
July 12, 2023 Defendants responded with a Motion to Dismiss (MTD).
November 14, 2023 Oral arguments from plaintiff and defendants were heard.
December 29, 2023 Magistrate Judge Stein oversaw this opening phase of the law suit and issued an extensive 85 page Report and Recommendation (R&R) summarizing his findings.
February 14, 2024 District Judge Woods agreed with and adopted the R&R. The R&R was overall very favorable to NWBO. It concluded that the market makers through spoofing on numerous occasions had purposely manipulated the price of NWBO to cause it to decline. Judge Woods also adopted Judge Stein’s position that NWBO had not sufficiently pled loss causation and on that basis granted the Defendants’ MTD.
Importantly, the Court allowed leave to amend the complaint on the sole issue of loss causation emphasizing that such an amendment would not be futile. In the R&R, the Court laid out a clear roadmap on how NWBO could successfully address loss causation in which case the MTD would be denied and NWBO could proceed to discovery. This Second Amended Complaint is due on, or before March 15, 2024.
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