You are on page 1of 2
* SICHENZIA ROSS FRIEDMAN FERENCE” February 5, 2016 Via E-filing and Regular Mail John H. Snyder, Esq John H. Snyder PLLC 555 Fifth Avenue, Suite 1700 New York, New York 10017 Re: Hanover Holdings I, LLC v. Vippy, Inc., Mahoma Investing Ltd, and. Index No, 652363/2014 Mr. Snyder: ‘As you know, we are counsel to Plaintiff Hanover Holdings , LLC (“Plsintif?) inthe above-referenced action, Eins, enclosed find an additional document production bearing Bates stamp range HANOVER 02022-02030, ‘Second, this production also includes the “audit” ofthe 1,600,000 shares of Yippy, Ine. stock received by Plaintiff in connection withthe transactions at issue in the above-referenced ‘action, which was ordered by the Honorable Barry R. Ostrager on January 25,2016. As an aside, allow this to again confirm thet, notwithstanding your in-court representation to the Court, ‘you infact had all or mast ofthe monthly account statements detailing every sale of Yippy, Inc. shares by Plaintiff forthe transactions at issue inthe above-referenced action the number of shares, the execution price ofthe shares, andthe proceeds from the share sales. Accordingly, you had the documents necessary to verify Plaintiff's receipt ofthe 1,600,000 shares and caleulate the proceeds therefrom. ‘Thisd, note that all 1,600,000 shares of Yippy, Ine. stock were sold by Plaintiff directly into the market. Plaintiff did not “short” or eause any other person or entity associated with Plaintiff to “shor,” “naked short” or otherwise hedge against Yippy, Inc. or the value of ts shares. Again, I refer you tothe monthly account statements and trade details therein, Fourth, as Plaintiff has fully complied with its discovery obligations, and Defendants have failed to produce a single document supporting () your in-court contentions that Plaintiff hhad “shorted” or engaged in “naked short selling” or (ji the Thirteenth Affirmative Defense, iis 1 Bestway |New Yr | 10008 ‘eer sa0 aan | (21219908725 | wwsecom Jon H. Snyder, Eg February 3, 2016 Page? abundantly clear that the foregoing were made without any factual or legal basis, Therefore, this correspondence also constitutes Plaintiff's demand that Defendants immediately withdraw, with prejudice, the Thirteenth Affirmative Defense and cease and desist in ther allegations, and through your office's representations and publications in and outside ofthis tigation, that Plaintiff had “shorted” or engaged in “naked shor selling” of shares of Yippy, Ine. stock. Any such allegations, representations, or publications are patently false misstatements of fac and law. ‘Be advised that if Defendants fil to adress these matters to Plaintif's satisfaction by February 12, 2016, Plaintiff wil seek all available relief from the Cour, including, pursuant to CPLR 3211(b) and 3024(b) and Uniform Rule 130-1.1, moving to strike the Affirmative Defense and for sanctions. Fifth the above-referenced shares do not include the certificate of 200,000 shares of ‘Yippy, Inc. stock owned and stil held by Plaintiff that Yippy, Inc. has filed and refused to nec its transfer agent to reissue to Plaintiff in fee-trading form and without restrictions, which ‘was a material, bargained for term inthe operative documents at issue inthis action that Yippy bas breached. ook forward to your anticipated cooperation and production. As always, do not hesitate to contact me to discuss these matters futher. ‘This letter is writen without regard to Plaintiff's rights and remedies all of which are expressly reserved. ‘Thank you. Very truly yours, Daniel Scott Furst Enel, Ce: The Honorable Barry R. Ostrager (via e-filing and wiout enc.)