http://www.sftc.org/Scripts/Magic94/mgrqispi94.dll?APPNAME=IJS&PRGNAME=ROA&ARGUMENTS=-ACGC07460147 California Supreme court upholds OSTK discovery vs. the Prime Brokers. Now, they find the fails. The tickets will lead Overstock to the perps. The brokers have spent millions upon millions fighting this, and they lost. It is very, very big news. I understand whatever OSTK gets becomes public information.
but of course. I wonder how that happens???? don't bet against him. He wins, everybody on the Battery loses. Write it down. There was a letter four Congressman wrote to the SEC, giving Cox a month to respond. He took five weeks, and sent a bunch of double talk bullshit. Watch how that plays out. In case you guys don't read the papers. Wall St. is in a world of shit, and that's just the stuff we know about, that we really still don't know about. Right now, the risk management guys are turning over rocks all over that place. No broker can make money with that scrutiny, and the next is the Feds coming in and looking. and that started this past week. If Bear Stearns gets hit with a Federal Indictment over the Cioffi HF bit, they're done. Who's next is anybodies guess. But once you start going though trading records, as Overstock is going to, it is going to be ugly. You all know that.
I don't have much faith in guys named cox or girls named kuntz. We need someone at the SEC with an iron crotch.
per the Marin County Superior Court website shows the case management conference (which was previously calendered for 02/29/08) has been bumped out to april ... 04/03/08 09:00 AM CIV053693 CASE MANAGEMENT CONFERENCE 08/04/08 09:00 AM CIV053693 SETTLEMENT CONFERENCE 09/09/08 09:30 AM CIV053693 A JURY TRIAL ** Rockers' fate to be decided by twelve people too stupid to get out of Jury Duty. Fab!!!!!
LITIGANT NAME DATE TIME RM CASE NUM. CASE TYPE ABRAHAM, ALLISON (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE ABRAHAM, ALLISON (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE ABRAHAM, ALLISON (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** BARRON, HUGH D. 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE BARRON, HUGH D. 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE BARRON, HUGH D. 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** BETTIS, JAMES CARR 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE BETTIS, JAMES CARR 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE BETTIS, JAMES CARR 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** BYRNE, JOHN J. (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE BYRNE, JOHN J. (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE BYRNE, JOHN J. (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** BYRNE, PATRICK M. (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE BYRNE, PATRICK M. (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE BYRNE, PATRICK M. (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** COHODES, MARC 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE COHODES, MARC 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE COHODES, MARC 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** COPPER RIVER PARTNERS, L.P., A NY LTD. PARTNERSHIP (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE COPPER RIVER PARTNERS, L.P., A NY LTD. PARTNERSHIP (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE COPPER RIVER PARTNERS, L.P., A NY LTD. PARTNERSHIP (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** FISHER, JOHN A. (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE FISHER, JOHN A. (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE FISHER, JOHN A. (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** GRADIENT ANALYTICS, INC., AN ARIZONA CORPORATION 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE GRADIENT ANALYTICS, INC., AN ARIZONA CORPORATION 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE GRADIENT ANALYTICS, INC., AN ARIZONA CORPORATION 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** HELBURN, MARY 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE HELBURN, MARY 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE HELBURN, MARY 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** KLIBER, MATTHEW 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE KLIBER, MATTHEW 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE KLIBER, MATTHEW 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** LINDSAY, JASON (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE LINDSAY, JASON (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE LINDSAY, JASON (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** OVERSTOCK.COM, INC., A DELAWARE CORPORATION 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE OVERSTOCK.COM, INC., A DELAWARE CORPORATION 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE OVERSTOCK.COM, INC., A DELAWARE CORPORATION 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** OVERSTOCK.COM, INC., A DELAWARE CORPORATION (1) 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE OVERSTOCK.COM, INC., A DELAWARE CORPORATION (1) 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE OVERSTOCK.COM, INC., A DELAWARE CORPORATION (1) 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** ROCKER MANAGEMENT, LLC., A NEW JERSEY LLC 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE ROCKER MANAGEMENT, LLC., A NEW JERSEY LLC 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE ROCKER MANAGEMENT, LLC., A NEW JERSEY LLC 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** ROCKER OFFSHORE MANAGEMENT COMPANY, INC., A NY CORP 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE ROCKER OFFSHORE MANAGEMENT COMPANY, INC., A NY CORP 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE ROCKER OFFSHORE MANAGEMENT COMPANY, INC., A NY CORP 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** ROCKER PARTNERS, LP., A NEW YORK LIMITED PARTNERSHIP 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE ROCKER PARTNERS, LP., A NEW YORK LIMITED PARTNERSHIP 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE ROCKER PARTNERS, LP., A NEW YORK LIMITED PARTNERSHIP 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** ROCKER, DAVID 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE ROCKER, DAVID 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE ROCKER, DAVID 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** VICKREY, DONN 04/03/08 09:00 AM B CIV053693 CASE MANAGEMENT CONFERENCE VICKREY, DONN 08/04/08 09:00 AM B CIV053693 SETTLEMENT CONFERENCE VICKREY, DONN 09/09/08 09:30 AM B CIV053693 A JURY TRIAL ** http://www.co.marin.ca.us/depts/MC/courtcal/casenoq.cfm?sel_prefix=CIV&sel_caseno=053693
Discovery Begins. This is devasting for Wall St. It opens up all the REGSHO list, current and past, for damages. Recs: 3 California Court of Appeals Denies Prime Brokers' Petition for Review http://biz.yahoo.com/prnews/080123/law089.html?.v=101 California Court of Appeals Denies Prime Brokers' Petition for Review Wednesday January 23, 9:00 am ET Discovery Continues in Prime Broker Litigation SALT LAKE CITY, Jan. 23 /PRNewswire-FirstCall/ -- Overstock.com, Inc. (Nasdaq: OSTK - News) today announced that on December 27, 2007, the California First District Court of Appeal summarily denied an Application for a Writ of Mandate sought by defendant prime brokers in the case of Overstock.com, Inc., et al. v. Morgan Stanley & Co., Incorporated, et al., pending in the Superior Court of the State of California, City and County of San Francisco, Civil Action No. CGC-07-460147. ADVERTISEMENT Defendants had sought to end the case by arguing that the action should be dismissed because Plaintiffs' California state law securities claims are preempted by federal securities law. The trial court disagreed, denying Defendants' demurrer and allowing the case to proceed to discovery. The Court of Appeal has "summarily" denied Defendants' Application to review the trial court's decision. Discovery is proceeding in the case. "This is another victory for us in a string of victories on these issues," stated Jonathan Johnson, Overstock senior vice president of corporate affairs and legal. "This decision clears wreckage off the legal tracks, and we are eager as ever to continue discovery." The suit alleges that the defendants, who control over 80% of the prime brokerage market, participated in a massive, illegal stock market manipulation scheme by placing sell orders for the company's shares and that the defendants had no intention of covering such orders with borrowed stock, as they are required to do, causing what are referred to as "fails to deliver." Specifically named as defendants are, Morgan Stanley & Co. Incorporated, Goldman Sachs & Co., Bear Stearns Securities Corporation, Inc., Bank of America Securities LLC, Bank of New York, Citigroup Inc., Credit Suisse (USA) Inc., Deutsche Bank Securities, Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., Lehman Brothers, Inc., and UBS Financial Services, Inc. The suit asserts that the defendants' actions caused dramatic distortions with regard to the nature and amount of trading in the company's stock, which have caused the share price of the company's stock to drop. The suit further contends that the amount of "fails to deliver" has, at times, exceeded the company's entire supply of outstanding shares, and a persistent large number of "fails to deliver" creates large downward pressure on the price of a company's stock. The company is seeking damages of $3.48 billion. Patrick Byrne, Overstock chairman and chief executive officer stated: "This is only the latest of many failed efforts by Wall Street to argue that it is above the law, existing in a cocoon of co-opted federal regulation and curious political treatment. Well, it turns out California has laws, too. Who knew?" About Overstock.com Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com. Overstock.com® is a registered trademark of Overstock.com, Inc. All other marks are the marks of their respective owners. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the effect of the decision clearing the way for the case to proceed without further hindrance, the chances of success of the case at trial, the failure or success of defendants in keeping the case from proceeding to trial or the success of the company in proving its case to a jury. Our Form 10-K for the year ended December 31, 2006, our subsequent quarterly reports on Form 10-Q, and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements. -------------------------------------------------------------------------------- Source: Overstock.com, Inc.