Lawsuit Overview
April 20, 2012 - Lead plaintiff and lead counsel were appointed.
January 12, 2012 - Another lead plaintiff motion was filed.
January 5, 2012 - The court denied the lead plaintiff motions.
December 12, 2011 - Lead plaintiff motions were filed.
October 12, 2011 - Another investor in Magnum D'Or Resources Inc (OTC: MDOR) filed a new lawsuit in the U.S. District Court for the Southern District of Florida on behalf of all persons or entities who purchased or otherwise acquired the stock of Magnum D’Or Resources Inc (OTC: MDOR) between July 2, 2008 and April 13, 2010, alleging violations of the Securities Exchange Act of 1934 by Magnum D’Or Resources Inc.
August 23, 2011 - The court granted the notice of voluntary dismissal.
August 22, 2011 - Plaintiff filed a notice of voluntary dismissal without prejudice.
July 18, 2011 - An investor in shares of Magnum D'Or Resources Inc (OTC: MDOR) filed a lawsuit in the U.S. District Court for the Southern District of Florida against Magnum D'Or Resources Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between July 2, 2008 and April 13, 2010.
According to the complaint the plaintiff alleges on behalf of investors who purchased Magnum D'Or Resources Inc (OTC: MDOR) stock between July 2, 2008 and April 13, 2010, that Magnum D'Or Resources Inc violated Federal Securities Laws by issuing between July 2, 2008 and April 13, 2010 false statements to the marketplace about its growth and operations, including falsely claiming that it had $130 million in contracts and $15 million in financing. This positive news, so the plaintiff, pushed Magnum D'Or Resources Inc's stock price up artificially, allowing insiders to carry out an illegal kickback scheme using Magnum's own stock.
Magnum D'Or Resources Inc’s 12 months Net Loss rose from $.012 million reported on September 30, 2006 to a Net Loss of $37.32 million reported on September 30, 2009.
On April 13, 2010 Magnum D'Or Resources Inc disclosed among other things that Weinberg & Company PA, its previous independent certified public accountants advised the company that its audit reports dated January 5, 2010 and February 6, 2009, cannot be relied upon. On April 19, 2010 Magnum D'Or Resources Inc disclosed that MantylaMcReynolds LLC, the former independent registered public accounting firm of the Company for the fiscal years ending September 30, 2010, resigned as the independent certified public accountants of the Company effective April 19, 2010, from further audit services to Magnum D'Or Resources Inc.
On March 18, 2011, Magnum D'Or Resources Inc announced that effective March 18, 2011, its Chief Executive Officer, President, and director Joseph J. Glusic resigned.
Then on April 29, 2011, Magnum D'Or Resources Inc announced that the U.S. Securities and Exchange Commission (“SEC”) filed a civil action against Magnum D’Or Resources Inc and its former chief executive officer and president Joseph J. Glusic of Henderson, Nevada, for antifraud and registration violations, and also against Dwight Flatt of Delray Beach, Florida, David Della Sciucca, Jr. of Ft. Lauderdale, Florida, and Shannon Allen of Miami, Florida for registration violations.
Shares of Magnum D'Or Resources Inc (OTC: MDOR) traded recently as little as $0.02 million.