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Krueger’s suit against M+M dropped, for now

Kevin Murphy, May 19, 2016, 15:20:09 (UTC), Domain Registries

Former Minds + Machines chair Fred Krueger has dropped his lawsuit against the company, which concerned “missing” shares.

M+M announced today that the two parties have signed a “tolling agreement”, which apparently leave the door open for Krueger to re-file the suit at a later date.

If he does re-file, the company has agreed to the date of the original suit being filed if it deploys any statute of limitations defenses.

The company said in a statement to investors:

The Tolling Agreement provides that if the plaintiffs refile their suit, that any statute of limitation defenses of the defendants will be based on the date of the filing of the dismissed suit, 23 February 2016, but will not be deemed to revive any of the plaintiffs’ causes of action, claims, rights, legal positions, or defenses, at law or in equity, that were time-barred prior to 23 February 2016.

Krueger sued claiming M+M or its accountants had misplaced five million shares he was due.

He was looking for $1.5 million in damages.

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