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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!
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To: ravenseye who wrote (4687)10/16/2007 12:31:39 PM
From: StockDung  Read Replies (1) of 5673
 
Status of Pending Case: Xybernaut filed for bankruptcy in August, 2005. The securities litigation was stayed as a result of the bankruptcy filing and the action was recently transferred to the Eastern District of Virginia. On January 19, 2007, the Court appointed lead counsel and the Al Mesnad Group as lead plaintiff. Plaintiffs have filed motions to lift the stay in order to obtain certain documents. A hearing on Plaintiffs' motion to lift the stay is pending before the Bankruptcy Court. Plaintiffs have continued to aggressively investigate the claims against Xybernaut, including filing a Consolidated Amended Complaint in the securities litigation on February 2, 2007. On April 2, 2007, Defendants filed a Motion to Dismiss Plaintiffs' Consolidated Amended Complaint. Lead Plaintiff filed an Opposition to Defendants' motion on May 14, 2007. On June 8, 2007, the Court issued an order denying the Motion to Dismiss filed by Defendants Steven A. Newman, Edward G. Newman and Martin E. Weisberg. Accordingly, the claims again these Defendants will proceed. The Court granted the Motion to Dismiss by Defendants Thomas D. Davis and John F. Moynahan. Defendant Martub E. Weisberg filed a Motion to Stay this action in June 2007, so as to permit private mediation. The Court granted the Motion to Stay the Xybernaut litigation. The parties submitted a written status report to the Court on September 10, 2007, which advised the Court as to the status of the settlement mediation.

sfmslaw.com
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