Securities
Securities Fraud
Breach of Contract
Scripsamerica Inc. v. Ironridge Global LLC dba Ironridge Global IV Ltd., John Kirkland, Brendan O'Neill and Does 1 through 5
Published: Sep. 26, 2015 | Result Date: Aug. 11, 2015 | Filing Date: Jan. 1, 1900 |Case number: 2:14-cv-03962-MMM-AGR Settlement – Dismissal
Facts
Scripsamerica Inc. filed a securities action against Ironridge Global LLC dba Ironridge Global IV Ltd., John Kirkland, and Brendan O'Neill.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiff accused defendants of fraudulent and deceptive conduct in connection with defendant's purchase of plaintiff's stock and artificial manipulation of the price of the stock. Plaintiff asserted claims for securities fraud, breach of contract, tortious bad faith, and declaratory relief.
DEFENDANTS' CONTENTIONS:
Defendants moved to dismiss the action for, among other things, failure to state a claim.
Result
Finding no merit to Scripsamerica's share manipulation claim, the court tossed the lawsuit.
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