Case Page

 

Case Status:    DISMISSED    
On or around 08/22/2011 (Court's order of dismissal)

Filing Date: July 18, 2011

According to a press release date July 18, 2011, the plaintiffs assert violations of Sections 10(b) and 20(a) of the Securities Exchange Act.

The complaint alleges that the defendants made false statements to the marketplace about its growth and operations, including falsely claiming that it had $130 million in contracts and $15 million in financing. This positive news, according to the Complaint, pushed stock prices up artificially, allowing insiders to carry out an illegal kickback scheme using the company’s own stock.

On April 13, 2010, the company’s former outside auditor wrote to the company stating it was (a) withdrawing its audit opinions for the company for the fiscal years ended 2009 and 2008, which were included in the Form 10-K filed with the SEC on January 13, 2010 and February 12, 2009; (b) confirming that it had already withdrawn its consents on April 8, 2010 relating to Forms S-1 dated April 6, 2010, March 18, 201, and February 5, 2010; and (c) withdrawing its prior consent relative to the Form S-8 dated June 29, 2009. The company included this letter in its a Company Form 8-K filing. The company’s stock dropped on the news.

On August 22, 2011, the Court issued an Order granting the Plaintiffs notice of Voluntary Dismissal without prejudice.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Fabricated Plastic & Rubber
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MDOR
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. Florida
DOCKET #: 11-CV-61591
JUDGE: Hon. Donald L. Graham
DATE FILED: 07/18/2011
CLASS PERIOD START: 07/02/2008
CLASS PERIOD END: 04/13/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Sarraf Gentile LLP (Former NYC)
    116 John Street, Suite 2310, Sarraf Gentile LLP (Former NYC), NY 10038
    212.868.3610 212.868.3610 ·
  2. Vianale & Vianale LLP (Boca Raton)
    2499 Glades Road, Suite 112, Vianale & Vianale LLP (Boca Raton), FL 33431
    561.392.4750 561.392.4750 · info@vianalelaw.com
No Document Title Filing Date