Post Scriptum: Federal Mediation — In Securities Fraud Case — Scheduled For June 24, 2016

Text-Raw-WhistleJust to complete the record here — as I said I would — the parties have agreed to try to mediate their differences, in the putative federal securities class action involving the allegedly wrongful conduct of Mr. Allin (the former CEO). Mr Allin (allegedly) intentionally and materially omitted information — scrubbing all references to his executive roles at Patron (and the attendant controversies occuring there), from his prior experience — as listed in the SEC filings under which Textura went public in mid 2013. He provided a much longer than required backward look at his CV, going back to his days at a large and prestigious accounting firm, but inexplicably made no mention of the intervening Patron debacle.

The applicable SEC rules only required five years of look back — but he delivered over ten, while omitting the unfavorable portions. That much is beyond dispute. In any event, here’s the bit, entered yesterday, in the federal District courthouse, in Chicago:

The parties have agreed to mediate this case. Mediation is set for June 24, 2016….

In the event the parties are unable to reach a mediated settlement, the earliest available trial date looks to be mid 2017.

There is also an in-court status conference scheduled for July 20, 2016 — and so… now you know.

Falling silent here again.

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