Oromin Explorations Ltd OLEPF

This lawsuit was filed back on June 13th. Why is Oromin being sued...

[tony1969]

if they have not accepted the offer? Is it because they have not declined it making Bendon look bad and be upset because of their original agreement? One of the things Bendon seeks is declaratory relief.
"Declaratory relief refers to a judgment of a court which determines the rights of parties without ordering anything be done or awarding damages. By seeking a declaratory judgment, the party making the request is seeking for an official declaration of the status of a matter in controversy. Optimally, the resolution of the rights of the parties involved will prevent further litigation."
Another thing they seek is injuctive relief.
"Injunctive relief is a court-ordered act or prohibition against an act or condition which has been requested, and sometimes granted, in a petition to the court for an injunction."
The last thing they seek is monetary relief.
"Monetary relief is a protection available to trademark owners under the Lanham Act. Monetary relief includes provable damages, attorneys fees, corrective advertising costs, defendants’ or plaintiffs’ lost profits, prejudgment interest, punitive damages, reasonable royalty, or treble damages. Monetary awards can be sought when infringement has occurred. The court has wide discretion under principles of equity to grant or deny such relief, and frequently requires a finding of intentional infringement before making such a reward."
As I said a couple of weeks ago, roughly $75 million in TGZ stock for OLE and $75 million in cash for Bendon plus some future royalties would get them close to a deal. This has gotten to a point were all parties will get hurt if they do not strike a deal. We should know something before their annual meetings in a couple of weeks.

[Roro1]

You're right Tony - everyone gets hurt if a deal isn't done. Unfortunatly,  different interests are pursuing different ideas. It's a bad situation, and with the shares falling as low as they have, this could bring forth new problems. Nevertheless, let's hope rationale heads pevail. Best- Roro