Ontario · CCAA

The purpose of this One Hundred and Twenty Third Report of the Monitor (“Report”) is to report to this Court on the motion filed by Kien Chen and Moreno Minto in their capacity as court appointed lead plaintiffs (the “Lead Plaintiffs”) in a putative class action (the “Lucescu Class Action”) captioned David Lucescu, individually and on behalf of all others similarly situated v. Mike Zafirovksi and Pavi Binning commenced in the United States District Court of the Southern District of New York (the “SDNY Court”) seeking a declaration “…of the cessation of the director and officer stay of proceedings provided for at paragraph 19 of the Initial Order (the “D&O Stay”) with respect to Mike Zafirovksi (“Zafirovksi”) and Pavi Binning (“Binning”) in order to allow the prosecution of the [Lucescu Class Action] to the full extent permitted by the laws of the United States without any limitation or restriction arising from the aforesaid expired stay of proceedings.”

Court officer report · 11 November 2015