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19:49
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Originally posted by ChillingOut:
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I'll assume that you actually read the entire section and understand that the word 'serious' is actually the threshold within the subsection otherwise you can't plead it. In short, they have to be plead it as 'serious' to come within the section otherwise you can't plead it. Whether they are proven to be 'serious' or found to be 'serious' is a different matter. Even if found to be 'serious', the Court has a discretion (i.e. "...may de minimis in the overall scheme.
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I think the fact that this is another nail in the ISX coffin that will result in the poor shareholders losing all their money means it’s “serious”. It really is a tragedy, and the fact that a small group of holders continue to defend the company and the people who lead to their losses is very sad.
