Community member Paul T hosted a space call with Anna, attorney Mark Basile, and Kkep regarding Anna’s lawsuit update.
The lawsuit, Inter-coastal Waterways vs. TradeStation and FINRA was originally filed in May of 2024 and has been moving through the court system.
Both defendants, FINRA and TradeStation, filed for a motion to dismiss. And TradeStation pushed arbitration.
The recent response from the plaintiff, filed on August 16th and led by attorneys from the Basile Law firm, is an impressive document of evidence against the motion to compel arbitration. Getting past this arbitration clause is of paramount importance in recognizing any justice for MMTLP.
The lawsuit made additional news recently. George Palikaras, the ousted CEO and founder of Meta Materials filed his own powerful document of support of this case.
“This fact alone is a conflict of interest because FINRA is directly implicated in the chain of events leading to TradeStation’s inability to deliver Plaintiff its securities. It is highly likely that any FINRA arbitrator will disallow any discovery from FINRA, and Plaintiff would be severely prejudiced, raising serious due process concerns.”
INTER-COASTAL WATERWAYS VS TradeStation AND FINRA
Basile thinks the judge may call for oral arguments after a few more motions go through, and indicates that it could be live-streamed.
Basile also stated that he thinks the community should have filed a suit like this long ago. Paul T made a valid point, however. If a case had been filed right at the beginning, we wouldn’t have had all the evidence we have gathered over the last 600+ days.
The space call wasn’t without some controversy. Mark Basile stated that other people with an “interest in this” might not have solutions aligned with shareholders. This vague statement caused a lot of concern over who this might be and what this exactly means.
Some speculated it might be Greg McCabe of Next Bridge. Others expressed absolute support for McCabe and said he has our best interest at heart. From what we’ve seen and heard at MMTLP Resources, Greg McCabe is on our side.
Basile hinted that we might hear more about this in the coming months.
The full recording of the space call is linked below.
The X-Space call lasted nearly 3-hours and can be listened to via the recording link below. At the end of the call, there was a discussion about PCO (Position Close Only) trading as well.
Looking for the full court document filing? You can read the full document on the case here.
It’s worth the read—quite an impressive filing.
Special shout-outs to Anna, for filing this case that could end up helping all MMTLP shareholders.