Thursday, September 18, 2008

Case Dismissed against Optionable

New York district Judge Lewis A. Kaplan has granted a motion to dismiss the consolidated class-action lawsuit against Optionable.

My source for this information is the article below which was published on September 16, 2008.
http://www.theglobeandmail.com/servlet/story/LAC.20080916.RTICKER16-2//TPStory/International

It is worth noting however that Judge Kaplan has given the plaintiff (KLD Investment Management) another chance to beef up their allegations by October 6th. You might say this is the last call for the anonymous sources whose comments KLD built their case on to step out of the shadows. KLD made an open plea to the anonymous sources back on January 5th. (http://biz.yahoo.com/pz/080105/133852.html) So far, the call for help has fallen on deaf ears.

Update: Tip o the hat to OPBLIVES for finding this link:
http://securities.stanford.edu/1037/OPBL_01/2008915_r01m_073753.pdf
This is the full text of Judge Kaplan's Dismissal