Replies to post #58494 on Calypso Wireless (fka CLYW)

[HighRider]

There has not been a ruling on the agreement because it has not been brought to court for anyone to figure out. I don't know of anywhere that it was determined the BOC as you say was ever determined to be illegal. Regardless what my opinion might be, unless or until a court determines they acted or were placed in control illegally, every agreement they made is legally enforceable. If you have enough money you might file a lawsuit to try and establish the fact that they were illegal and therefore any actions taken by them were not legal. Until that happens, only the Receiver can make those judgments. The Delaware case only spoke to the fact that none of the BOD were elected by the shareholders. The judge did not rule they were illegal.

[Cougar6]

You are assuming that the board was illegal. I don't remember seeing anything that indicated that from the court, only that they had violated corporate law and had no plan on how they were going to fix that violation.

The exact affect on the settlement with Diac I cannot say and I believe it is true that the receiver has certain powers that could void actions taken by the company within a certain period of time prior to the court ruling (I am not sure the exact time), but I have never seen anything that indicates he has any intention to do that.

Then again, I have seen nothing from the receiver other than what he has filed in court, so I guess, like everyone else, I wait for something after the Markman decision.

I guess I would not get my hopes up that the receiver sees fighting that fight as being worth the effort, but who knows. For my part I assume he will not attempt to reopen that can of worms.