More comments on the legal actionGEI's Aug. 22 press release IMO appears to downplay this legal action by Fareport. I just noticed on p. 49 of Fareport's claim that it is alleging that E21 Group and others "committed the tort of conspiracy". To me, purported involvement in a comspiracy sounds like a fairly serious charge--far more serious than performing unsatisfactory work or issues regarding a private placement--these lesser issues being ones disclosed in the EIG press release. However, I don't see any mention of conspiracy charges in the press release. I wonder why...
The press release states that "Green Environmental believes that the suit is without merit" (an example of downplaying). Read the claim and decide for yourself whether you agree.
In my experience, it is often better to resolve legal issues through a quick settlement rather than throwing money into the wind... I mean rather than paying lawyers' bills. Also better not to distract management for too long on such issues and have them return instead to running the business. As someone said here, unsettled, this suit could drag on for years. How desirable is that?
Just my opinions, for what they're worth.