RE: OT:RE: Wolfy, you have a very valid point about jumping to conclusions based
posted on
Jun 22, 2006 08:34PM
Some more legal perspectives from my lawyer regarding his take on EDIG`s most recent shareholder update.
``1. They want to move the case to the federal court in Utah where they will not get ``hometowned`` by a Judge and they will get better and more beneficial rulings from a federal court judge as opposed to a state court judge, especially if the case progresses to where experts have to be retained and deposed. Although many of the evidentiary and underlying rules are the same in Utah state and federal court, there are slight nuances that always benefit the defendant in the federal court system. We can discuss that learn about those as the suit progresses.
2. Filing of the answer and cross-complaint is standard although it appears as from the comments in no. 2 they will not be filing an answer, they will be filing what is commonly termed in the federal court as a Rule 12(b)(6) motion. This is essentially a motion to get dismissed as much of the complaint at the outset as is possible without having to put on evidence.
Along with the Rule 12(b)(6) motion they are going to filing either a motion for injunctive relief, declaratory judgment or restraining order to ensure that they can practice ``business as usual.`` The above three motions are essentially the same just different ways to get to the same result. The result: business goes along as usual while this lawsuit proceeds. That would be the normal ruling from the judge, especially a federal court judge. No judge or court wants to stop or put a company out of business while a lawsuit is proceeding. Remember, we still are of the belief that you are innocent until proven guilty. Although that is a criminal standard, it really applies here in that if found guilty the defendant just pays money, usually alot of it, instead of going to jail.
All looks good. Case is proceeding as one would expect. Remember, the legal process is slow. You are looking at 18-24 months before a resolution is in place, if this case proceeds to trial. I should give you a caveat. That 18-24 months is in California where we move pretty quickly. In states like New York and Illinois, cases drag on for 5-7 years.
One of the reasons to move the case to federal court is to move it along as quickly as possible.
How much is the stock? I like this company, especially with what I hear the airlines are thinking about doing over the next 10 years.``