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Puda Coal Inc PUDA

Puda Coal, Inc. (Puda) is a supplier of high-grade metallurgical coking coal to the industrial sector in the People’s Republic of China (the PRC or China). Its processed coking coal is primarily purchased by coke and steel producers for the purpose of making the coke required for the steel manufacturing process. Puda’s operations are conducted by Shanxi Puda Coal Group Co., Ltd (Shanxi Coal), which it controls through 90% indirect equity ownership. Puda cleans raw coking coal sourced from third-party coal mines primarily located in Liulin County, Shanxi Province, and markets the cleaned, coking coal to coke and steel makers. Its primary geographic markets include Shanxi Province, Inner Mongolia Autonomous Region, Hebei Province, Beijing and Tianjin, China. It purchases raw coal from a diversified pool of local coal mines in Shanxi Province.


GREY:PUDA - Post by User

Comment by coldheaton Feb 26, 2014 1:06pm
77 Views
Post# 22254251

RE:Major tactical change for Puda Case

RE:Major tactical change for Puda CaseFinally, plaintiffs were unable to obtain the so-called "smoking gun" document until recently even through the exercise of due diligence. See id. at 88 (quoting Saud v. Bank of New York, 929 F.2d 916,920 (2d Cir. 1991». Accordingly, res judicata does not bar plaintiffs complaint. Plaintiffs unopposed motion for leave to file an amended complaint in order to add a claim against Macquarie Capital (USA) Inc. under § 10(b) of the Securities Exchange Act (ECF No. 282) is GRANTED. This Order does not preclude Macquarie from raising any defenses it wishes to raise. II. TRELLUS'S MOTION FOR AN INDICATIVE RULING Having reviewed the facts proffered by plaintiff in response to the Court's order to show cause, the Court has also revisited its denial (ECF No. 292) of Trellus Management Company LLC's motion for an indicative ruling pursuant to Fed. R. Civ. P. 62.1(a)(3) (ECF No. 288) regarding its motion to intel'vene (see ECF Nos. 176, 263). Pursuant to Rule 60, the Court may relieve a party from a judgment, order, or proceeding due to "newly discovered evidence that, with reasonable diligence, could not have been discovered in time to move" to amend the judgment. Fed. R. Civ. P. 60(b)(2). A Rule 60(b)(2) motion may be brought within one year of the entry ofjudgment that the movant is challenging. Fed. R. Civ. P. 60(c)(1). When considering the timeliness of a motion to intervene in the first instance, factors for the Court to consider include: "(a) the length of time the applicant knew or should have known of [its] interest before making the motion; (b) prejudice to existing parties resulting from the applicant's delay; (c) prejudice to [the] applicant if the motion is denied; and (d)
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