As alleged in the complaint, defendants published a series of materially false and misleading statements which defendants knew and/or recklessly disregarded were materially false and misleading at the time of such publication, and which omitted to reveal material information necessary to make defendants' statements, in light of such material omissions, not materially false and misleading.
On December 10, 2009, the defendant filed a motion to dismiss for improper venue. This motion was denied on February 18, 2010. On March 23 and April 1, 2010, motions to dismiss for lack of jurisdiction were filed. On May 24, 2010, the company filed a suggestion of bankruptcy and, as a result, the motions to dismiss were denied. On June 4, 2010, the motion for lack of jurisdiction was denied.
Individual defendants filed motions to quash and dismiss on August 17 and December 15, 2010. The motion filed on August 17 was denied on February 24, 2011. A motion for reconsideration was filed which was granted on September 30, 2011. That same day, the December 15 motion was denied.
On March 29, 2013, the Court issued an Order dismissing this case pursuant to Federal Rule of Civil Procedure 41(b) based on Plaintiff's failure to prosecute his claims in this case.