• Richard Hofman Dismisses Arbitration

    In a surprise move, attorney and community member Richard Hofman has withdrawn his arbitration case against Fidelity.

    You can listen to the complete video explanation below but the main reason Richard voluntarily dismissed the arbitration appears to be the lack of fairness, progress, and potential damage to MMTLP shareholders.

    Richard talks about many problems, including every request for discovery being denied, and even Richard asking for a document which gets denied, and Fidelity asking for the same document and getting it approved.

    As we all probably expected, having an arbitration clause in ANY service you use is extremely limiting. Richard also learned that if the arbitrators were really against retail investors, they could offer a judgment of such a small amount (such as $2.90 a share), which would, in the end, only hurt our efforts in other legal cases moving forward.

    We applaud Richard for all his work with this case over the last year and trust his decision to dismiss.

    The big question now is whether the latest RICO lawsuit can get beyond the arbitration clause. If it can, there’s going to be fireworks soon.