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Vitesse Semiconductor Corp. Message Board

stockyardbull4 3 posts  |  Last Activity: Jan 23, 2015 9:43 AM Member since: Aug 20, 2009
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  • stockyardbull4 by stockyardbull4 Jan 23, 2015 9:43 AM Flag

    When companies file Chapter 11 the stockholder's stock is cancelled and they receive nothing. Very seldom do they get anything!!

  • stockyardbull4 by stockyardbull4 Dec 21, 2014 10:35 AM Flag

    WHEREFORE, the SEC respecthlly requests that this Court enter a judgment:
    A. finding that Defendants violated Section 10(b) of the Exchange Act [15 U.S.C. 5
    78j@)] and Rule lob-5 thereunder [17 C.F.R. 5 240.10b-51;
    B. finding that Fife was a "control person" of Clarion Management for purposes of
    Section 20(a) of the Exchange Act [15 U.S.C. 5 78t(a)];
    C. permanently enjoining Fife and Clarion Management from future violations of
    Section 10(b) of the Exchange Act and Rule lob-5 thereunder;
    D. ordering Fife and Clarion Management to pay disgorgement of ill-gotten gains,
    plus prejudgment interest, either on a joint and several basis or independently;
    E. ordering Fife to pay an appropriate third-tier civil monetary penalty pursuant to
    Section 2 1( d)(3) of the Exchange Act [15 U.S.C. $ 78u(d)(3)];
    F. retaining jurisdiction over this action to implement and carry out the terms of all
    orders and decrees that may be entered; and
    G. granting such other and additional relief as this Court deems just and proper.
    Respectfully submitted,
    Steven J. Levine Illinois ARDC No. 6229621 Kenneth E. Yeadon Illinois ARDC No. 6273281 Linda T. Ieleja Illinois ARDC No. 6204334
    Attorneys for the Plaintiff SECURITIES AND EXCHANGE COMMISSION 175 West Jackson Boulevard, Suite 900 Chicago, Illinois 60604 (312) 353-7390
    DATED: January 18,2007

  • stockyardbull4 by stockyardbull4 Dec 19, 2014 11:43 PM Flag

    On December 15, 2014, a Memorandum Opinion and Order was issued by the United States District Court Northern District of Illinois Eastern Division granting the motion of John Fife, plaintiff ("Plaintiff"), for summary judgment against mphase Technologies, Inc. (the "Company") for breach of contract (the "Opinion"). All other claims and counterclaims were dismissed.

    The Company has commenced settlement negotiations with the Plaintiff and is exploring its options with regard to appeal; however, there is no gurantee of success. In the event that the Company's attempts to appeal or settle are unsuccessful, the Company will be required to pay an amount approximating the total liabilities accrued on the Company's balace sheet specifically for this matter.

    (John M. Fife owns 575,596,492 shares).

3.99-0.05(-1.24%)Jan 23 4:00 PMEST

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