New Jersey Court Clears Exis Capital in Fairfax Financial Hedge Fund Lawsuit

[Alekbaylee]

http://www.marketwatch.com/story/new-jersey-court-clears-exis-capital-in-fairfax-financial-hedge-fund-lawsuit-2012-09-12  :'(

[A_Hamilton]

I don't know what to think.

 

I want to know 1.) How much FFH spent on this endeavour, 2.) Whether it was poor maneuvering at Kasowitz to have FFH file in NJ instead of New York, and 3.) Whether there is any way to ever recover money when a fraud like this is put on your company. How can you not look at the facts of what Gwynn and Sender did and not think that they meant to publicly disparage and harm the company, and that the subsequent fall in the stock price/ blow out in credit spreads did actually harm the company?

 

What a mess.

 

[Alekbaylee]

They decided to appeal the decision. So hopefully they have more/other material facts or I don't see the point.

 

I think Prem was personaly and deeply hurt by these bad guys and wanted - rightly - to seek justice at all costs. Sad day for him.  :(

[berkshiremystery]

Truly sad outcome currently,... but I guess it's impossible to predict how a case runs,... some form of drunkard's walk.  I have read in some legal advice magazine about some dispute of increased monthly rents in some apartment building after a major renovation project of the entire building. The legal advisors weren't themself sure in this complicated case, so what did happen with these 36 tenants: ...about 11 (or ~1/3) moved out, because they couldn' afford the higher rent and legal costs,

...about another  13 (~ 1/3 of the tenants) were financially well off or careless,... they blindly paid the higher rent.

...well, but now comes the rest,... the remaining 12 tenants (1/3), that had a lawyer.

They had 12 individual lawyers,... and here comes the drunkard's walk !!! 

 

These remaining 12 tenants negotiated all individually their rental disputes.

As a side note, around that time there was some major legal change in public tenant law enacted.

 

So what did happen to those 12 legal cases.

About 5 lost the case,  4 won it right out,  and the remaining 3 tenants after some second attempt of legal wrangle, because the landlords lawyers made some deadline filing mistakes.

 

So legal cases can be some drunkard's walk of a butterfly in chaos theory and totally unpredictable. It not depends on who is truly right or wrong, but rather on legal mistakes on the sidelines or filing deadlines.

 

 

 

[berkshiremystery]

 

Fairfax Case Against Morgan Keegan, Exis Dismissed

http://www.bloomberg.com/news/2012-09-12/fairfax-lawsuit-against-morgan-keegan-exis-dismissed-by-judge.html

 

The judge ruled that while “it’s clear here that there was evidence of intent to adversely affect the actual business dealings” of Fairfax, the Toronto-based company wasn’t entitled to damages under New Jersey law, according to a transcript of his Sept. 11 ruling

 

 

How Fairfax's $6 bln claim against hedge funds dwindled and died

http://newsandinsight.thomsonreuters.com/Legal/News/ViewNews.aspx?id=56923&terms=%40ReutersTopicCodes+CONTAINS+'ANV'