Another NEW Lawsuit: Alpha Capital Anstalt
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Thread: Another NEW Lawsuit: Alpha Capital Anstalt

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    Another NEW Lawsuit: Alpha Capital Anstalt

    1:11-cv-06458-PAC Alpha Capital Anstalt v. Advanced Cell Technology, Inc.
    Paul A. Crotty, presiding
    Date filed: 09/15/2011
    Date of last filing: 09/15/2011

    Case Summary
    Office: Foley Square Filed: 09/15/2011
    Jury Demand: None Demand:
    Nature of Suit: 190 Cause: 28:1332 Diversity-Breach of Contract
    Jurisdiction: Diversity Disposition:
    County: XX Out of U.S. Terminated:
    Origin: 1 Reopened:

    Lead Case: None
    Related Case: None Other Court Case: None
    Def Custody Status:
    Flag: ECF

    Plaintiff: Alpha Capital Anstalt represented by Kenneth A. Zitter Phone: (212) 532-8000
    Fax: (212) 679-8998
    Email: kzitter@aol.com

    Defendant: Advanced Cell Technology, Inc.
    'TIME IS BUT THE STREAM I GO A-FISHING IN'

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    confused-full.jpg

    this is me right now

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    Looks like these guys sue everyone they ever dealt with, google: Alpha Capital Anstalt suit

    Rocky, Is this tied to this previous suit?

    Type: Contract > Other Contract
    Alpha Capital Anstalt v. Advanced Cell Technology, Inc.
    Filed: January 23, 2009 as 1:2009cv00670
    Plaintiff: Alpha Capital Anstalt
    Defendant: Advanced Cell Technology, Inc.
    Presiding Judge: Judge Lewis A. Kaplan
    Cause Of Action: Federal Question
    Court: Second Circuit > New York > Southern District Court
    Type: Contract > None
    Last edited by MA09; 09-20-2011 at 09:16 AM.
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    JHam
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    Any idea how much they are suing for?

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    Quote Originally Posted by JHam View Post
    Any idea how much they are suing for?
    No, I posted what was available on PACER. The complaint is filed but as of now
    I am unable to open and read. ALPHA was the Company that the "Stipulation
    of Settlement Agreement" was with which was the basis of agreement when we
    restructured our debt with CD Holders. Without reading the complaint, I am
    assuming the Midsummer and Gemini settlements set this one off..

    CONSENT, AMENDMENT AND EXCHANGE AGREEMENT
    1.Waivers of Certain Events of Default. Each Holder hereby agrees to waive each Event of Default resulting solely from (a) any adjustment to the Conversion Price of the Debentures and the Exercise Price of the Warrants that would result from the reduction of the conversion price of certain securities of the Company pursuant to the Stipulation of Settlement dated March 11, 2009 and attached hereto as Exhibit A and (b) any failure by the Company to reserve such number of authorized but unissued shares of Common Stock equal to the Required Minimum as required pursuant to Section 4.11 of the Purchase Agreements.
    Unassociated Document
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    Quote Originally Posted by MA09 View Post
    Looks like these guys sue everyone they ever dealt with, google: Alpha Capital Anstalt suit

    Rocky, Is this tied to this previous suit?

    Type: Contract > Other Contract
    Alpha Capital Anstalt v. Advanced Cell Technology, Inc.
    Filed: January 23, 2009 as 1:2009cv00670
    Plaintiff: Alpha Capital Anstalt
    Defendant: Advanced Cell Technology, Inc.
    Presiding Judge: Judge Lewis A. Kaplan
    Cause Of Action: Federal Question
    Court: Second Circuit > New York > Southern District Court
    Type: Contract > None
    Yes and no. That suit was settled and Stipulation agreement reached..see my
    other post..
    'TIME IS BUT THE STREAM I GO A-FISHING IN'

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    I was about to say "You've got to be kidding me...", but then I realized that Rocky tends to not kid.
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    Sigh.. not the news I was hoping for this morning.

    Trying to find any positive spin, I suppose more people tend to sue you when you have something of value they want? Maybe these parties are suing now bacause they see the potential we all see and want to get in.

    It's not much, and probably a reach, I know..

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    Just to add some more color, here is some info from the first go around with Anstalt:

    Alpha Capital Ansalt v. Advanced Cell Technology, Inc., Case No.09 Civ 670 (LAK), United States District Court, Southern District of New York: On March 5, 2009, we settled a lawsuit originally brought by Alpha Capital on February 11, 2009, who is an investor in the 2006, 2007, and 2008 debentures, and associated with the default on August 6, 2008 on all debentures. In settlement of the lawsuit, we agreed to reduce the conversion price on convertible debentures held by Alpha Capital to $0.02 per share, effective immediately, so long as we have a sufficient number of authorized shares to honor the request for conversion.

    From the 2009 1st quarter 10Q:
    http://www.sec.gov/Archives/edgar/da...155066_10q.htm

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    JHam
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    Quote Originally Posted by Actc_fan View Post
    Sigh.. not the news I was hoping for this morning.

    Trying to find any positive spin, I suppose more people tend to sue you when you have something of value they want? Maybe these parties are suing now bacause they see the potential we all see and want to get in.

    It's not much, and probably a reach, I know..
    Positive spin. At least it means one less lawsuit to come out of nowhere and scare us...
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    Defendant
    Advanced Cell Technology, Inc.

    Date Filed # Docket Text
    09/15/2011 1 COMPLAINT against Advanced Cell Technology, Inc. (Filing Fee $ 350.00, Receipt Number 16658)Document filed by Alpha Capital Anstalt.(ama) (Entered: 09/19/2011)
    09/15/2011 SUMMONS ISSUED as to Advanced Cell Technology, Inc. (ama) (Entered: 09/19/2011)
    09/15/2011 Magistrate Judge Frank Maas is so designated. (ama) (Entered: 09/19/2011)
    09/15/2011 Case Designated ECF. (ama) (Entered: 09/19/2011)
    09/15/2011 2 RULE 7.1 CORPORATE DISCLOSURE STATEMENT. No Corporate Parent. Document filed by Alpha Capital Anstalt.(ama) (Entered: 09/19/2011)
    'TIME IS BUT THE STREAM I GO A-FISHING IN'

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    Here's an actual positive spin. It seems investor's don't care about these lawsuits any more than they care about all of the great news ACT has delivered in the last year. As I've said on another thread recently, nothing really matters anymore until there is dilution at some point in the near future, and much more importantly, when the moment comes in a couple of years when you either lose most of your money or make a ton of money via JV, takeover or failed trial results.
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    Not a great way to wake up in the morning. Another lawsuit. I feel like a punching bag!. Can they settle out of court and get it over with quickly? Should ACTC fight this and counter-sue(if possible)?

    Its becoming a drag.
    <img src="http://investorstemcell.com/images/icellbronze.png" border="0" /><img src="http://investorstemcell.com/images/icellbronze.png" border="0" />

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    ugh

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    Quote Originally Posted by JHam View Post
    Positive spin. At least it means one less lawsuit to come out of nowhere and scare us...
    And it means more people are expecting validation and the market value to increase. Nonetheless, validation accompanied by dilution tempers one's enthusiasm. To put it in perspective, zits used to bother me until my first girlfriend graced the landscape. ACTC should have some very rich gals pretty soon.
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    Quote Originally Posted by Marco Polo III View Post
    Not a great way to wake up in the morning. Another lawsuit. I feel like a punching bag!. Can they settle out of court and get it over with quickly? Should ACTC fight this and counter-sue(if possible)?

    Its becoming a drag.
    Marco,

    ACT can do any of things you mentioned. No matter what anyone thinks, the 3 lawsuits
    filed in the last month are potential liabilities that cost big bucks to defend, settle
    or whatever happens. They represent an overhang we don't need but will have to deal
    with them..
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    'TIME IS BUT THE STREAM I GO A-FISHING IN'

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    I emailed James Young (again) at CEOCAST (ACTC Investor Relations) and asked him for the company's persepctive on all these lawsuits... i.e. why did we settle in the past, how many can we expect to see going forward, and what is the company doing to protect shareholders from these lawsuits and potential dilutive settlements?

    I encourage everyone to email ACTC Investor Relations, Gary Rabin directly, or any other contacts you have with anyone at ACTC. I'm tired of reading about these lawsuits and dilutive settlements, with no explanation from ACTC management. As CEO, Rabin owes ACTC shareholders an explanation as to what's going on, and the only way we're going to get one is if we apply pressure and flood their email boxes with demands for an explanation, IMO.
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    Gary was on the BOD prior to the untimely death of Bill. As a memeber of the BOD he would have known about this. It appears as though shares were supposed to be held for this entity until they were taken control of. Shares committed but no money recieved. So how many shares are involved?
    So many want to keep their place in line. We should not blame them for agreements the company made should we? How upfront with us/shareholders is this G-man?

    { How many shares are they talking about? When they next dilute by 500,000,000/1,750,000,000 shares it will be another liability of less than 1/3 added to the already committed shares. What was he doing when he was paid as a BOD member if he is unaware of this?}

    (The G-man bonus is based upon performance as defined by INCREASED SHARE VALUE. Does he have a dilution factor in that number? Are his bonus shares set aside?)
    Last edited by catchall; 09-20-2011 at 10:55 AM. Reason: { } .......( )

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    JHam
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    Quote Originally Posted by jckrdu View Post
    I emailed James Young (again) at CEOCAST (ACTC Investor Relations) and asked him for the company's persepctive on all these lawsuits... i.e. why did we settle in the past, how many can we expect to see going forward, and what is the company doing to protect shareholders from these lawsuits and potential dilutive settlements?

    I encourage everyone to email ACTC Investor Relations, Gary Rabin directly, or any other contacts you have with anyone at ACTC. I'm tired of reading about these lawsuits and dilutive settlements, with no explanation from ACTC management. As CEO, Rabin owes ACTC shareholders an explanation as to what's going on, and the only way we're going to get one is if we apply pressure and flood their email boxes with demands for an explanation, IMO.
    Yes!! It is starting to irk me to say the least, that no one from ACT management address these lawsuits with the shareholders. Do they think we don't mind or something?

    Thanks for emailing CEOCAST jckrdu!
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    Quote Originally Posted by JHam View Post
    Yes!! It is starting to irk me to say the least, that no one from ACT management address these lawsuits with the shareholders. Do they think we don't mind or something?

    Thanks for emailing CEOCAST jckrdu!
    JHam - I'm going to email investor relations once a day until I get a response. I'm tired of reading SEC filings showing that another 50 million shares went out the door to settle a lawsuit, with no word from ACTC management for years.

    Anyone - If you have Gary Rabin's email address, please send it to me via a private email. I plan to send Gary 1 email a day as well until I get a response.
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