LAWSUIT IS SPELLED WITHOUT AN E........but our dear friend Georgie, 'he of a thousand handles, wouldn't know that! Nor would he know that AGEN and CDTI were awful stocks........The lawsuit is silly......it can easily disappear......just like Georgie profits in AGEN and CDTI........This is really quite a blow out......I think I'll nibble!!!!! Georgie will nibble on Richie!!!!!
If this lawsuit was viable it would have been mentioned during the Speedy acquisition. The claim is supposedly for non payment of $700K of invoiced bills to Navr but because they weren't paid the company making the claim says they went bankrupt. So now they sue for $50 million. The drop isn't being caused by this noise but probably the same reason Amzn is dropping, profit taking after a big run up, fear that earnings will suffer from the consumer being hit hard by the economy and maybe even a big institution shorting the stock because they can.
seems like the suit is for a small amount only 700K but could not read all the details the article only mentions 700k that speed owes and hasn't paid. So who know what the rest of the suit is about The stock seems to be dropping as there is no real support for it at this time. and this suit could suck a good chunk of Speed Commerce investors away as no one want to buy a company with lawsuits pending.