[SLJB]: Faced with few assets to collect, the Drago Class Action lawsuit attorneys withdraw the lawsuit

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Poof, gone - What happened to all those SLJB assets?


http://investorshub.advfn.com/boards/read_msg.asp?message_id=21942121


Posted by: janniebgood
In reply to: None Date:8/9/2007 12:58:39 PM
Post #of 279231

I have been advised that the case of Drago v. Vucicevich, et al, filed in federal court in Florida, has been voluntarily dismissed by the plaintiffs' counsel due to the following reasons:

1. None of the defendant companies had Directors and Officers (D&O) liability insurance, which would have covered the companies for any illicit acts or omissions by its directors and officers which caused financial detriment to the company or its shareholders; and

2. The attorneys did not feel there were sufficient reachable assets among the defendants to justify their risk of advancing a substantial amount of money in costs to prosecute this case across international borders.

It appears to me from this that neither the companies (SLJB Nevada, SLJB Ontario, and Kore) nor the individuals involved have much in the way of assets, at least not in their own names. The law firm which investigated this matter on behalf of myself and another shareholder also came to the same conclusion once their investigation was concluded.

Where have all those touted substantial assets gone?





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