CEF/DIL: ASC Hearing Date Moved to Sept 2019

In the article ASC Hearing Ruling: Feb 28, 2019 I detailed the history of the ASC’s case against the named defendants through the Feb 28, 2019 hearing where the ASC declined a some requests to delay the hearing or seal the proceedings until the representative action against the named respondents had concluded.

A bit after the Feb 28 hearing, the ASC Proceedings, Decisions & Orders page for this case was updated with a new application hearing scheduled for Apr 25, 2019 while the entire case was rescheduled to be start hearing arguments in Sept 2019 instead of May 2019 and run for seven (7) weeks.

Why was the case moved? My guess is it has to do with the application hearing scheduled for Apr 25, 2019.

What is this application about? When I find out you’ll find out.

(And for anyone that suspects this is an April fools prank, it’s not.)

4 thoughts on “CEF/DIL: ASC Hearing Date Moved to Sept 2019

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  1. So much for the “balance of convenience”… unless the investors are confident they will live at least to 110.

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  2. My personal speculation is that the respondents are using this Apr application hearing as a delaying tactic to get the actual panel hearing delayed. If that’s their strategy, it appears to be working. One thing to note is that a number of depositors have died – and it’s their children that are now finding out what happened and are now stuck with dealing with this mess.

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