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Plaintiff CMKM Inc s Supplement to Opposition Surreply to Defendants Motion in Limine to Exclu Sto[1]

Plaintiff CMKM Inc s Supplement to Opposition Surreply to Defendants Motion in Limine to Exclu Sto[1]

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Published by: glimmertwins on Jul 12, 2011
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07/12/2011

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BillFrizzell(TexasBarNo.07484500)2FrizzellLawFirm602SouthBroadway3Tyler,Texas757014Tel:903-595-1921Fax:903-595-43835AppearingProHacVice6DavidR.Koch(NevadaBarNo.8830)7StevenB.Scow(NevadaBarNo.9906)KOCH
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SCOW,LLC811500S.EasternAve.,Suite2109Henderson,Nevada89052Tel:702-318-504010Fax:702-318-503911AttorneysforPlaintiff121314CMKMDIAMONDS,INC.,15
ElectronicallyFiled
07/11/201110:11:16AM
CLERKOFTHECOURT
DISTRICTCOURTCLARKCOUNTY,NEVADA16Plaintiff,17vs.18URBANCASAVANT;THEUAJC200519IRREVOCABLETRUST;MIKEWILLIAMS;DESHAWNL.WAYNE;20BRIANDVORAK;JAMESKINNEY;21GINGERGUIERREZ;P.A.HOLDINGS,INC.;BUCKOLLC;DONALDROGER22GLENN;EDWARDSANGELLPALMERANDDODGELLP;RENDAL23WILLIAMS;CIERRAWILLIAMS;24MONTEVERDEINTERNATIONALHOLDINGSLLC;PATRICIAE.25DECOSTA;DOES5-20;andROES3-20,262728Defendants.CASENO:A540161DEPTNO:XIPLAINTIFFCMKM,INC.'sSUPPLEMENTTOOPPOSITION(SURREPLY)TODEFENDANTS'MOTIONINLIMINETOEXCLUDEEVIDENCEOFALLEGEDHARMSUFFEREDBYPLAINTIFFCMKM,INC'sSHAREHOLDERSHearingDate:HearingTime:July12,20119:00a.m.-1-
 
1TOALLPARTIESANDTHEIRATTORNEYSOFRECORD:2CMKMDiamonds,Inc.("CMKM")herebysubmitsthisSupplementtoOpposition
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(Surreply)totheMotioninLiminetoExcludeEvidenceofAllegedHarmSufferedbyPlaintiff4CMKMDiamonds,Inc.'sShareholders,("MIL")asfiledbyDefendants,DonaldRogerGlennand
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EdwardsAngellPalmerandDodge,LLP(collectively,"theEAPDDefendants").CMKM
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respectfullyrequeststhatthiscourtdenythatmotion,furtherstatingasfollows:
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I.IMPORTANCEOFDAMAGESDATATOCMKMINTHISACTION
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Incomputingdamagesinthismatter,thepricespaidforstockbyCMKMshareholders
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(whicharealsotheamountoftheshareholders'damages)havealwaysbeenusedbyCMKMto10computeitsvariousalternativedamagesincluding,forexample,theamountofunjustenrichment11receivedbythoseinvolvedintheconspiracyandfraudinvolvingCMKMstockissuanceandsale.12Infact,anexpert[seeMILp.5,line4]retainedbytheEAPDDefendantsmonthsagosoughtto13reducethedamagescomputedbyuseofthepricepaidbytheharmedshareholders,byasserting14twoseparateanddistinctclaimsfor"haircuts"tothemarketpriceofsuchshares.Thus,theprice
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paidbythepublic,whichisalsothedamagestoCMKMshareholders,isinextricablyintertwined16intothiscase.17Meanwhile,theEAPDdefendantsalsofailtoaddressintheirMILandreplythatthereare18threeother(defaulting)defendantsinthismatter,whohaveofferednodefensesincludingany19challengetotheadmissibilityofthelosses/amountspaidbytheshareholders.Thosedefendants20causeddamagestoCMKMpriortothetimetheEAPDDefendantswereinvolved,andthencaused21furtherdamagesCMKMthroughadditionalactsperpetratedalongwiththeEAPDDefendants.22Thus,the"marketvalue"oftheshares(alsotheamountofthedamagestotheshareholders)23ofCMKMisalsousedtocomputedamageswhicharenotdamagesforwhichCMKMseeksto24holdtheEAPDdefendantsliable,onlythedefaultingdefendants.Then,usingthesametypedata-
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themarketvalueoftheshareswhetherornotthesealsoconstitutethedamagestoshareholders-26mustbeusedtocomputethosedamagescausedjointlybythedefaultingdefendantsandtheEAPD27defendants.
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1TheEAPDdefendantsalsoaskthiscourttoexcludeallevidenceofharmtoCMKM2shareholders,whileomitting,forexample,thatanotheroftheirexperts[seeMILp.5,line4]has3incorporatedintohisreportfindingsinthecasefiledbytheSEC[MIL,ExhibitD],inwhichthe4SEC"found"theextentofthefraudcommittedthroughuseofsharesofCMKM.Thesedefendants
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havereferredmanytimestosuchfindingsintheirmotionsandotherfilingsinthismatter.Such6findingshavethereforebeenincorporatedintothismatterandare,forthisandotherreasons,also7inextricablyintertwinedintothematterbeforethiscourt.
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II.CMKM'SDEBTTOITSSHAREHOLDERS
9TheseEAPDdefendantssuddenlyfeign"shock"thatCMKMwould,alongwithothertypes10ofdamages,beseekingtheamountofthelossesoftheshareholdersasdamagestoCMKM.Yet,11evenintheirMIL,theEAPDDefendantsrecountalitanyofoccasionsdatingbackmanymonths12duringdiscoveryinwhichtheywerecertainlyonnoticethatsuchinformationwasacentralpartof13CMKM'sclaimsfordamages.Infact,inthedamagesreportpresentedtothembackinMarch,14baseduponthemarketvalueofthesharespaidbytheshareholders-thus,theamountofthe
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shareholders'damages-wasspelledoutforthem.Asmentionedhereinabove,anotheroftheir16expertsstudiedsuchdamagesandaddressedreductionofthoseamountsusing"haircut"methods.17IftheEAPDDefendantsarenowtrulysurprisedthatsuchamountsaredirectdamagesto18CMKM,thentheyarebarely,ifatall,prejudicedbythisrevelation,becausetheyalreadyhave19thesedamagesamounts,havedigestedtheseandevendisputedthese.Theonly"new"information20wouldbe"how"theseamountsaredamagestoCMKM,whichwouldrequirelittleneweffortto21dispute.Infact,theyaredisputingthisintheirMILandReplybrief,towhichCMKMresponds22herein.23Furthermore,assumingitsobligationstoitsshareholdersistheproperroleforCMKM24management,whichunderstandsitsfiduciarydutytothoseshareholders.Whilesuchamovemay
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betotallyforeignto"WallStreettypes,"thisisalaudableundertakingforthosewhohavereplaced26thefraudstersandconspiratorswhoformerlyranCMKMandwho,withtheassistanceofthese27defendants,orchestratedhistoricfraudthroughtheuseofCMKMshares.
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