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Case Status:    DISMISSED    
On or around 09/11/2012 (Notice of voluntarily dismissal)

Filing Date: October 29, 2010

According to the Amended Complaint, the Company was created and operated by Defendants as a sham corporation designed to provide benefit to the attorneys, officers, directors and brokers that participated in and orchestrated the reverse merger and “operations” of the corporation. Defendants also controlled the float of the Company stock in the marketplace, failed to make proper disclosures to the investors/Class, and engaged in insider transactions, among other things, all designed to provide financial benefit to Defendants to the detriment of the Company and the Class Members. In the process, Defendants violated Texas and Federal securities laws, and committed fraud and misrepresentations, among other violations of law. Plaintiffs were investors who relied on the representations and false statements; purchased stock in the Company; were defrauded and misled; and were the victims of the securities violations and other wrongful acts in which Defendants engaged.

The Company stock began trading in the Over-the-Counter bulletin Board on or about October 14, 2005, at $1.50 per share on volume of 1,900 shares. From mid-January to the end of February 2006, The Company’s share price reached a high of $22.00 and stabilized at approximately $15.00 on very limited volume. During the months and years that followed, the Defendants engaged in a pattern of manipulating the stock prices through the sales of the Company stock as set forth herein.

In December 2010, and May and June 2011, the defendants filed several motions to dismiss. On July 11, 2011, a notice of dismissal was filed as to certain defendants in the action, and these defendants have been dismissed without prejudice. Motions to dismiss 34 and 35 were denied as moot. The company defendant and seven individual defendants remain in the action.

On September 5, 2012, the Court issued an Order granting an individual defendant's motion to dismiss. Plaintiffs were given leave to file an amended complaint against the remaining defendants in this case. On September 5, 2012, the plaintiffs filed their third amended complaint.

According to the September 11, 2012 docket entry, the plaintiff dismissed this pending matter without prejudice.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: EXBX
Company Market: Pink Sheets
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Texas
DOCKET #: 10-CV-04221
JUDGE: Hon. Keith P Ellison
DATE FILED: 10/29/2010
CLASS PERIOD START: 10/07/2005
CLASS PERIOD END: 10/29/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Krenek Law Offices
    601 Park Grove Dr, Krenek Law Offices, TX 77450
    281-578-7711 281-578-8988 · edkrenek@kreneklaw.com
No Document Title Filing Date
COURT: S.D. Texas
DOCKET #: 10-CV-04221
JUDGE: Hon. Keith P Ellison
DATE FILED: 12/13/2010
CLASS PERIOD START: 10/07/2005
CLASS PERIOD END: 10/29/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Krenek Law Offices
    601 Park Grove Dr, Krenek Law Offices, TX 77450
    281-578-7711 281-578-8988 · edkrenek@kreneklaw.com
No Document Title Filing Date