Looks like GreenShift and Central have come to an understanding: - dismiss with prejudice all claims.
PLEASE TAKE NOTICE that Plaintiff, GS CleanTech Corporation, by its undersigned counsel, and Defendant, Center Ethanol Company, LLC, by its undersigned counsel, pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure, hereby dismiss with prejudice all claims asserted by and between GS CleanTech Corporation and Center Ethanol Company, LLC, with each party bearing its own costs and attorney's fees.
SEE HERE
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We cannot say for sure what this means, and I have no inside information. However, we can look at this logically:
Who initiated this lawsuit and why?
GreenShift, and because it was in GreenShift's self-interest to do so.
Who initiated the end of the lawsuit and why?
No judge said to drop it - GreenShift decided on its own. The only reasonable explanation is GreenShift decided to drop the suit because it was in GreenShift's self-interest to do so.
If you follow me so far then the question becomes:
How could it be in GreenShift's self-interest to drop the suit?
I can only think of two plausible reasons why it would be in GreenShift's self-interest to drop the suit. Again these are just my best guesses based on my logic . . .
1. Central Ethanol has signed up as a licensed customer of GreenShift. GreenShift will likely want some good news to be released with any reverse split or IPO. This could be a part of that good news being set for release.
2. GreenShift found out during "discovery" that for some reason Central Ethanol was not extracting corn oil or was not in violation of the GreenShift Patents.
SkunK
Friday, July 9, 2010
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14 comments:
Skunk,
Regarding your Friday July 9th post:
Do you think that this verdict will negatively impact the other pending lawsuits? It sounds like no royalties will be recieved from Center Ethanol. What's your opinion of how this could impact the other lawsuits. I don't think this is a positive developoment if you own massive amounts of GERS stock.
Skunk, the blog you highlighted a few posts earlier (that is now locked without invite) recently posted that he or they shorted at 3's and took profit when GERS released the Def 14k after the ask was eliminated. Have you done the same?
Which means the trader covered at 1's just incase as I saw new shares added? But still that was a good move, wish I would of done the same.
I knew that F'ER was shorting GERS Every time id see the so called proof of shares column added id see an amount equal to that sold in small incriments in the L2 quotes. the blogger was tryin to get it to raise just so he could short it more. lol nice move nerd.
In my experience, cases dismissed "with prejudice" are sometimes dismissed because of a settlement. As part of the settlement agreement, the parties release each other from all claims and agree not to bring the case again--thus, it is dismissed "with prejudice".
Hope this helps
Absolutely. This is being done by GreenShift. It is in GreenShift's self-interest or they would not have done it. "With prejudice" means no going back. Most likely GreenShift has a new customer, signed and sealed. The deal would be this gets dropped and central saves face cause they are now part of the GreenShift team paying 20% royalties.
If GreenShift makes this profitable and painless for Central the rest could follow sooner rather than later.
I was told that Central Ethanol was practicing corn oil extraction and heating the stillage prior to the centrifuge...a clear violation of the patent. What does not make sense is that if Greenshift settled this case they would have splashed the headlines around the world. Greenshift has really struggled with providing a quality and reliable system to the ethanol industry..all that own one would not dispute that fact...but one area they have shined in is the PR department machine. To there credit nobody in the ethanol industry does it better then they do when you have to get positive spin out. Keep up the good work skunk!
PR is all about timing for maximun affect. Bet they are holding this nugget for the R/S. This is significant news so they cannot hold this past Mid August when the 2Q comes out.
So I think the R/S and this and other infor may be out between now and then. Next five weeks! More likely next five days??
Is it possible there is a confidentiality agreement which is preventing Greenshift from discussing this settlement? Could be good for both parties - Central doesn't look "guilty" for settling an infringement suit and Greenshift doesn't have to disclose the specific deal they gave Central - which gives them more negotiating power with any other companies who decide to come to the table.
Absolutely. Look at the other last minute "conversions". We got the deal - but no details when Marquis came over to the good side. NO details of the settlement. But greenshift is a public company so they have to release any significant business deals. The deal (not the details) So they have to release at least by the next reporting period.
I agree. Marquis was the first to settle, Central is the second. The deal will be announced by the next reporting period. Hopefully they'll announce more than one.
Here's some legal language I dug up.
Stipulation of dismissal, settlement.
"The contract is based upon the bargain that a party foregoes its ability to sue."
This is what just happened as dismissed with prejudice means they've foregone their ability to sue.
"The settlement of the lawsuit is often put in force by an order of the court after a joint stipulation by the parties. In other situations (as where the claims have been satisfied by the payment of a certain sum of money) the plaintiff and defendant can simply file a notice that the case has been dismissed."
Again, this is what just happened. Center and Greenshift jointly filed to dismiss.
"The majority of cases are decided by a settlement. Generally, one side or the other will make a settlement offer early in litigation."
This is early in the litigation, it hasn't even started trial yet.
"In controversial cases, it may be written into a settlement that both sides keep its contents and all other information relevant to the case confidential."
We have another winner. This case is controversial and so far all information has been kept confidential.
I believe this is a settlement.
How high will this thing go if a bunch start to settle?
How high will this thing go if a bunch start to settle?
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