RE: ABAT finally touched $.23 ~ Settlement or Trial?
The following reply was taken from a Seeking Alpha / Variant View research blog
and comment follow-up.The concluding statement from ABAT does a good job of suming up the big picture.
And, in my opinion, is a good reason this case will not proceed to jury trial.
In the comment section of the Seeking Alpha blog V V R claimed false ABAT dsitributors,
V V R also claims a web page that states ABAT manufactures cars "which is misleading".
ABAT responded by stating they make small quad style vehicles as well as agricultural vehicles.
ABAT also stated they produce batteries for cars and for busses. It's pretty much what
we have here on the YAHOO message board. Long investors state ABAT is expanding and making profit.
Short concerns bash with the usual negative comments.
The series of comments is punctuated with this final comment from ABAT:
To all of the investors or shareholders:
We thank our investors and shareholders for their support, and regret that unscrupulous
people like Variant View are trying to make a fast buck for themselves, at the
expense of our investors, by providing false information and scaring our
investors. Everyone loses -- except the short sellers. We implore our investors,
and those who are interested in our company, that if you must read these
defamatory statements, please read them carefully and note the difference
between sourced and proven facts, like those we have provided above, and
innuendo, unidentified individuals, and matters presented as fact but without
any identifiable or credible source, as pervades the Variant View "report." We
are confident that the Variant view will not survive that scrutiny. We
sincerely invite you to visit our plants in China. All of the staff of ABAT are
waiting for your arrival.
The November deadline for discovery is 2 weeks away. The Doc 90 text is a clip from the ABAT case which is available on free legal pages online. The Doc 90 clip is a statement from the Honorable Judge Colleen McMahon. In my opinion the judge's analogy will once again come into play. In it she states that items presented in discovery do not change the fact that the March 2011 V V R publication was followed by a steep decline in share price.
I have attempted to post specific text regarding Doc 90, but YAHOO isn't allowing it to be displayed. Will try again in another form.
The publication of V V R report was followed immediately by the steep
decrease in ABAT's stock price. At the pleading stage, this is sufficient to plead loss causation.
There is no reason why the post-Class Period discovery of additional evidence
that bolsters a truth-revealing disclosure should have any impact on the loss
causation analysis at all.
To analogize: If, during the discovery phase of this lawsuit, Plaintiffs discover falsified invoices, fake sales contracts, or other evidence of misstated revenue, it would obviously not change the fact that, as soon as the V V R report hit the street, ABAT's stock price fell precipitously.
The posting you are referring to from 8 Apr 2011 was from a user called stockmaster89, not from ABAT.
You lied when you state: "is punctuated with this final comment from ABAT". stockmaster89 was a collage student with two followers on SA, he posted 36 comments, all attempting to pump ABAT. He has not posted since 2011, and likely sold his shares at a loss long ago. Twist, you are a real piece of dung.