| After
Fraudster Gilbertson Dakota Plains Cited
Scienter, Jan 2022 Trial in SDNY Not
Hawaii
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
August 4 – Bankrupt oil
company Dakota Plains Holdings
is seeking to decertify a
class of investors suing for
fraud after Dakota's Ryan
Gilbertson was convicted of
stock manipulation.
On
December 21, 2020 in the U.S.
District Court for the
Southern District of New York
there was a proceeding. Inner
City Press covered it, and
live tweeted some of it, here:
First up is
Michael Rowe, saying there
were other reasons for Dakota
Plains' collapse, including a
train crash near
Montreal.
Now argument
turns to "Daubert" - that is,
experts. Oral argument bingo:
scienter.
Now Mr. [Karl
Jon] Breyer: Both Reger and
Gilbertson both denied they
owned more than 5% of the
companies stock...
The
officers and director did the
best as they could, they found
nothing they had to disclose
to the public, they don't have
to disclose suspicions
Plaintiffs'
counsel: Our exhibit 119 is
what the officers and
directors privately disclosed
to the SEC about what they
said was securities fraud by
Gilbertson... That should be
sufficient to defeat this
motion.
Now on August 4,
Judge Jed S. Rakoff held a
proceeding, after reading a
jury his legal instructions in
US v. Sidney Scales. For this
case, a trial date had to be
selected.
One of the
lawyers said two weeks in
December were not possible.
Judge Rakoff asked, Why not?
The lawyer said, a vacation in
Hawaii.
Judge
Rakoff joked, then the trial
will have to be moved to
Hawaii in December! But now it
is set for January 31, in New
York.
The case is Jon
D. Gruber v. Ryan R.
Gilbertson, et al., 16-cv-9727
(Rakoff)
***
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