ALL YOU NEED TO KNOW ABOUT THE LAWSUIT Ok enough is seriously enough. For all you longs, lurkers that never post, N investors, PLEASE READ THIS. THIS TOOK PLACE TODAY.
Mr. Hurwitz, Thank you for getting back to me. I have been email for months. Why did it take so long to respond? Do you have thousands of investors who lost money on Namaste, just not me? I be happy to complete the paperwork you provided. But I need more information first about your law firm. I noticed that you currently have 4 lawyers yet almost hunderds of class action law suits and investigations. How do I know you will actually follow through. What is your success rate? Also from the Complaint document, I notice majority of the information comes from Citron, there must be a more credible source? Sorry I'm just weary of since Citron has been charged with fraud themselves. As well, the lead plaintiff dropped his suit in California, after no evidence was provided. If I get involved here, how do I know I'm not just wasting my time? Especially since it's the same lead plaintiff. I appreciate you getting back to me and your time. Look forward to hearing from you. I'm hoping you can help me get my $1.5million back, that was my entire life savings and life is in shambles now. Mr. Smith
Response Dear Mr. Smith: I attached copies of our firms’ resumes for your review. We are working together with the Pomerantz firm on this case. You are correct we only have 7 attorneys at our firm, but Pomerantz has over 35 attorneys at their firm. To answer your question no lead has been appointed in this case. The deadline for lead is December 5, 2018. We voluntarily dismissed our case in CA and refilled in NY see attached. If you would like to apply for lead, we will need a copy of your trade confirmations and a signed certification. I hope I answered your questions. Warmly, Eitan
Thanks Eitan, That was very informative. I was a little concerned when I received the first email and information regarding the filing in California. Which I had been following. Just to clarify you said "no lead has been appointed in this case", who is Willard Workman on the filing? I would definitely be interested being the lead on this, I just want to make sure the information is correct. Also what happens if no lead is assigned by Dec. 5th? Last question, I had asked earlier, that the filing shared in first email and this email are sourcing Citron's research? How credible is this source, especially after doing extensive research on Citron and Andrew Left, I found out that he was charged for fraud. Thanks Mr. Smith
Response Willard Workman was the plaintiff who filed the initial complaint. The lead will not be assigned by December 5th . The deadline to apply for lead is that day. Typically, although not always, the judge will appoint the lead plaintiff and lead counsel within a month. Besides for the Citron report, we will have our own investigators look into allegations. I don’t believe Andrew Left has been charged with Fraud in the US. I see in Hong Kong he has been banned from trading for 5 years. At the end of the day everyone gets their day in court. Namaste will have an opportunity to defend themselves. We are willing to take the chance on a contingency basis to try to recover money for the shareholders. If you want to be lead I suggest you send us your trade confirmations so that we can run a damages analysis. I would also like to have the opportunity to speak with you over the phone. Eitan
Hi Eitan, I will mull it over and get back to you. My concern is two statements you made; 1. Besides for the Citron report, we will have our own investigators look into allegations. Does this mean nothing has been done to date? 2. I don’t believe Andrew Left has been charged with Fraud in the US. I see in Hong Kong he has been banned from trading for 5 years. Is fraud committed in another country less important because it wasn't done in the US? Also if a judge hears of Citron/Andrew Left, is his credibility going to hold up in court? I'm just being very cautious, I hope you understand. Mr. Smith
Response John. The real fraud investigation in full is conducted once lead plaintiff and his counsel is appointed. The job to expend time and resources to hire a team of investigators belongs to lead counsel. The only issue for now is who lead plaintiff will be with the authority and resources at his disposal to thoroughly investigate the matter.
Hi Peretz, What if no lead plaintiff is assigned, is there extension? I would just need some time to make a final decision. Mr. Smith
Response It is highly unlikely that no one will move for lead on December 5 th .
Response John: I may be repeating eitan’s email. we know a number of firms are interested in this case. I thnk there is almost zero chance no one will move for lead on dec 5, so assume that date is a hard deadline. At this point, I am feeling uncomfortable communicating, because you have presented no trading records to demonstrate you really are a shareholder with class period damages. So the ball is in your court at this point. Thanks.
Last question, anyone can answer it. Why was the case withdrawn in California?
Response We question at this point whether you are a plaintiff or journalist or mole. Please provide your address, name of employer and trade records.
Peretz, You're lawyers, figure it out. Mr. Smith