all this legal mumbo jumbo is too complex under "order" apparantly the defendants need to show cause, cause as in what caused them to acquire these bonds?
Posts: 3086 | From: miami | Registered: Nov 2005
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quote:Originally posted by SherriT: I just got back....while I am definately feeling better, I think we should all temper our enthusiasm until we hear the PR from Rufus and/or an official ruling from the courts.
Not trying to kill anyone's joy, because I honestly have tears in my eyes, but....
Agreed, but you have to admit, this is as good a position as we could be in right now given the circumstances.
Oh yes, I very definately agree - I have more hope at this moment than I have since the suspension...
now im on the other side of the fence! bck and forth....the order says they have a court date on the 7th...so theres no ruling yet i would think, correc tme if im wrong
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
Well I get a sense this won't be trading anytime soon. Looks like we have a ways to go. Am I reading that right?
Posts: 33 | Registered: Oct 2006
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posted
it doesn't seem like we'll be trading anytime soon as far as my understanding of what I read. Please correct me if I'm wrong. It seems this is far from over with. Given the fact that they have to be in court on Nov.7th.
posted
Does not look good from my angle people. TRO is so ordered....
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell Posts: 4190 | From: Rhode Island | Registered: Mar 2006
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quote:Originally posted by RyanPBF: it doesn't seem like we'll be trading anytime soon as far as my understanding of what I read. Please correct me if I'm wrong. It seems this is far from over with. Given the fact that they have to be in court on Nov.7th.
damn even when the stock isnt trading we are on an emotional roller coaster...
Posts: 3086 | From: miami | Registered: Nov 2005
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quote:Originally posted by mo-rydr: Extent of Minutes:
MINUTE TEXT: Hearing on plaintiff's motion for TRO. Defendants' exhibits 1 - 10 ADMITTED. Defts' exh 7 placed under seal. Court granted plaintiff's motion for TRO and motion for expedited discovery. Court advised deft Harris to hire attorney for the next hearing, since a coporation cannot represent itself. Counsel for pltf to prepare order.
Wait what happened to case dismissed and everything is going to be fine?
Posts: 28 | Registered: Oct 2006
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posted
Basically the court granted the TRO and has given Rufus until the 7th of Nov. to prove why this TRO should not become permanent . He is also ordered to comply with the SEC and give them any and all documents they request . This thing is FAR FROM OVER ....... Thats how I figured it would play out yesterday .
And it does appear he showed up without an attorney and the Judge advised him to bring one next time .
-------------------- ----- Game Over ----- Posts: 1536 | From: San Antonio - Texas | Registered: Oct 2006
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posted
Chart, I wanted to bring that up again but then didn't - I don't want to sound like a weirdo but I have had a few that have come true - (I used to freak my mom out when I was younger)..
I just hope the second part does come true ...about opening back up & we're all VERY HAPPY!!
quote:Originally posted by Chartwalker: Holy cow!!
Jenna's dream!!!
We did halt, the other part of her dream was the we open FRIDAY at a BIGGER Price!
Holy Cow Jenna!!!!!!
-------------------- ..just remember....Family is EVERYTHING!! Posts: 3944 | From: Rochester, NY | Registered: Sep 2006
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quote:Originally posted by mo-rydr: Extent of Minutes:
MINUTE TEXT: Hearing on plaintiff's motion for TRO. Defendants' exhibits 1 - 10 ADMITTED. Defts' exh 7 placed under seal. Court granted plaintiff's motion for TRO and motion for expedited discovery. Court advised deft Harris to hire attorney for the next hearing, since a coporation cannot represent itself. Counsel for pltf to prepare order.
Wait what happened to case dismissed and everything is going to be fine?
im confokused! possible that they have NO EVIDENCE to go against rufus's so they are ordering this TRO. but im thinking that doesnt necessarily mean we wil have to wait till then to resume trading
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
So why is RUfus going to go on subpenny radio....wouldn't he be in violation of the court order?
Posts: 1453 | From: Wisconsin | Registered: Jul 2006
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Join Date: Oct 2006 Location: Homestead, Fl Posts: 19 From the website.....Harvard Defenders: Subject "show cause hearings":
"The hearing has three possible outcomes. The Clerk will decide whether to dismiss, continue or issue the complaint. If the complaining party fails to show probable cause, the complaint is dismissed. If the Clerk Magistrate continues the complaint, the complaint will issue if the defendant engages in further criminal wrongdoing during the period of the continuance. If the Clerk issues the complaint, this is not a determination of guilt or innocence. Nonetheless, the complaint will appear on the defendant's permanent criminal record. The defendant will then be arraigned and may be assigned a public defender."
Posts: 1453 | From: Wisconsin | Registered: Jul 2006
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posted
Looks like the TRO...is simoly refraining from PRing anything false and misleading...and things of that nature...(kind of a given)...not completely what the SEC was asking for...am I missing more of it? the original was asking for none of the officers to be able to do their jobs and removal...isn't that correct?
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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quote:Originally posted by new2stocks: So why is RUfus going to go on subpenny radio....wouldn't he be in violation of the court order?
i think the court order covers documents and paper work etc...i read something about not wanting any possible destruction of paperwork etc
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
The TRO is actually kind of a catch 22, if you think about it....The SEC says that Rufus is engaging in fraudulent behavior, he says he isn't because he does own the bonds....going on SPR isn't a violation of those rules if he isn't engaging in fraudulent behavior...the TRO is rather a waste of time really, depending on your perspective. I do think Rufus should tread very lightly or he will wind up in contempt of court.
Thoughts?
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
the next court date is the 7th of november and he ( rufus ) MUST have a lawyer. even IF the suspension is lifted on the 6th witch seems doubtful at this point considering court is on the 7th. it will be up to market makers to decide if they will continue to issue quotes for this stock and if they do, they will be compelled by law to CAREFULLY review the companies financials FIRST! this may take more time than we think! GLTA>
Posts: 2503 | From: connecticut | Registered: Mar 2005
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quote:Originally posted by SherriT: The TRO is actually kind of a catch 22, if you think about it....The SEC says that Rufus is engaging in fraudulent behavior, he says he isn't because he does own the bonds....going on SPR isn't a violation of those rules if he isn't engaging in fraudulent behavior...the TRO is rather a waste of time really, depending on your perspective. I do think Rufus should tread very lightly or he will wind up in contempt of court.
Thoughts?
"Contempt of court" i thought that only happens IN court...lol of course correct me if im wrong.. im no legal guru
plus i see nowhere anything of a GAG order
Posts: 3086 | From: miami | Registered: Nov 2005
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quote:Originally posted by 10of13: Looks like the TRO...is simoly refraining from PRing anything false and misleading...and things of that nature...(kind of a given)...not completely what the SEC was asking for...am I missing more of it? the original was asking for none of the officers to be able to do their jobs and removal...isn't that correct?
I thought that last part was an effect if they were found by the court to be guilty of fraudulent behavior.
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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quote:Originally posted by mo-rydr: Extent of Minutes:
MINUTE TEXT: Hearing on plaintiff's motion for TRO. Defendants' exhibits 1 - 10 ADMITTED. Defts' exh 7 placed under seal. Court granted plaintiff's motion for TRO and motion for expedited discovery. Court advised deft Harris to hire attorney for the next hearing, since a coporation cannot represent itself. Counsel for pltf to prepare order.
Wait what happened to case dismissed and everything is going to be fine?
Must be that the secretary who I talked to hadn't read the minutes yet, or something. I was just relating what I was told by her.
-------------------- Hi-ho Momo, awayyyy... Posts: 871 | From: So. Cal | Registered: May 2006
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