According to the latest docket posted, the court gave order that plaintiffs' counsel may withdraw. The case was dismissed without prejudice, and no further actions were taken.
The original complaint charges misrepresentations in sale of unregistered Maratech Stocks and Bonds. The complaint alleges violations of state and federal securities laws and the Racketeer Influenced and Corrupt Organization Act. The complaint also alleges that defendants committed fraud in the sale of the unregistered stocks and bonds, failed to provide information to members of the Class about those investments, and made a series of false and misleading statements in order to solicit investors.
Note: The class consist of all persons who purchased or otherwise acquired shares of stock in a company known as Maratech on or after March 1, 1991, or purchased or otherwise acquired ownership interest on or after January 2, 1993 in certain bonds known as "MaraBonds" in a New York corporation known as MaraFund, Ltd., and who suffered damages as a result of those purchases. Excluded from the class are the defendants in the action and members of their immediate families, and their heirs, successors, assigns, subsidiaries, affiliates, officers, agents, representatives, and employees.