Now that everyone can read the Sullivan motion onl

Now that everyone can read the Sullivan motion online as per soxie's link, I think it's very important to point out that they are asking for MANDATORY sanctions under a newer Federal law, not "just" sanctions under a less strict rule.

I do not think that the Rosen Firm understood exactly HOW deep the pile of crap is that they stepped into. And, of course, later on Sullivan wants to compel them to produce information on Mako, Seeking Alpha, PumpStopper, PumpTerminator, and ANYONE INVOLVED WITH THEM. I have a feeling some online identities are being removed right now......

Please note the term MANDATORY. This gives Judge Failla every justification to slap the Rosen Firm as hard as possible.

Quote:

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Although this issue is being briefed as a “motion for sanctions,” Dkt. 59, Defendants are technically not moving this Court for sanctions under Rule 11. Instead, and as previously discussed, Defendants are requesting this Court to make a mandatory finding under the Private Securities Litigation Reform Act of 1995 (“PSLRA”), that the Rosen Law Firm and its clients failed to comply with their Rule 11(b) obligations and engaged in “abusive litigation,” thus entitling Defendants to sanctions. See 15 U.S.C. §78u-4(c) (“Sanctions for abusive litigation”).
This conclusion is overwhelmingly supported, if not compelled, by the text, spirit, and policy underlying the PSLRA and its sanctions provision, which Congress intended to fundamentally change courts’ approach to sanctions in cases brought under the statute.

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