Posted On: 12/21/2015 11:07:34 AM
Post# of 72444
Now if I edit the shareholder's email we received over the weekend and make the assumption that Ashcroft will fulfill their response on the first day possible, I think we can express some optimism that this timeline could end much sooner than March 21st.
Update to CTIX Shareholders on the Court Hearing of December 18, 2015
On Friday December 18, 2015, we had a Court hearing (afternoon) in NY. The Court approved Zagami as the lead Plaintiff and The Rosen Law Firm (Rosen) as the lead law firm. This was expected and we had no basis to object. Rosen asked for an additional 60 days to amend their Complaint. We objected to any amendments. The Court allowed Rosen until January 6, 2016 (less than three weeks). The Court has given us thirty days after Rosen files the amended Complaint to file our Motion to Dismiss. We have until January 7th to file our Motion to Dismiss. Rosen will then have 30 days until February 6th , to file a Reply and we then have an additional two weeks, until February 20th to Respond, if we think it is necessary.
Update to CTIX Shareholders on the Court Hearing of December 18, 2015
On Friday December 18, 2015, we had a Court hearing (afternoon) in NY. The Court approved Zagami as the lead Plaintiff and The Rosen Law Firm (Rosen) as the lead law firm. This was expected and we had no basis to object. Rosen asked for an additional 60 days to amend their Complaint. We objected to any amendments. The Court allowed Rosen until January 6, 2016 (less than three weeks). The Court has given us thirty days after Rosen files the amended Complaint to file our Motion to Dismiss. We have until January 7th to file our Motion to Dismiss. Rosen will then have 30 days until February 6th , to file a Reply and we then have an additional two weeks, until February 20th to Respond, if we think it is necessary.
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