Traderdan,
Probably when you're spooked its the best time to buy. I'm spooked, but not buying. Can't seem to pull the trigger.
A few updates on the AOL lawsuit. These are my observations after reading recent pleadings. Keep in mind I am a layman and certainly not qualified to render legal advice, opinions, etc.!!!:
1] BNEZ is asking the court to stay the action w/AOL and to add two more defendants, Comstock and Townsend.
2] After discovery with Comstock and Townsend, then, BNEZ thinks that they may have or not have stronger evidence to defeat AOL's stayed motion for summary judgment (which assumes that the court will grant the stay of proceedings with AOL), of course.
3] BNEZ did submit a supplementary pleading (as a result of the interrogatories and depositions afforded by limited discovery) in opposition to AOL's original motion for summary judgment. This pleading, #83, is sealed.
4] AOL is responding to #83 on or before 2-19-99 and I assume this response is in and probably sealed as well.
5] BNEZ had asked the court to approve production of documents from AOL in connection with the limited discovery approved by the court 10-30. The court ruled against this. BNEZ is now appealing this decision based on two matters of law. If BNEZ prevails on this they want the production of documents plus an extension of time for the limited discovery authorized by the court 10-30.
6] As far as I know, the in court appearance of AOL and BNEZ on 3-3 to argue for and against the summary judgment is still on. But, of course, it may not come off as scheduled due to the motions above.
7] Interesting note. One of the pleadings mentioned that three depositions were taken 1-19 and 1-20. The fourth deposition was cancelled by BNEZ (at the last minute).
Again, all of the above is just my opinion and I could be wrong on what I have read or interpreted from the pleadings. Looks to me like BNEZ is convinced that someone is responsible for what happened and the trail has led to Comstock and Townsend. The trail was developed through the limited discovery authorized by the court 10-30. Now, it appears BNEZ wants to add these two entities as defendants (as opposed to starting an all new lawsuit) while staying the action with AOL.
Additionally, if the court decides to grant summary judgment to AOL, BNEZ has asked that it do so without prejudice to BNEZ's ability to bring action against it (i.e., AOL) in the future as a result of BNEZ's planned pursuit of Comstock and Townsend.
Looks like the ride is going to last awhile.
Jud
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