Rites of McManus

Thanks to one of our readers in attendance at Odyssey's annual shareholder meeting this morning, we have a copy of the Q&A handed out. Very interesting. And if we were Doc, and we're obviously thrilled we're not, we'd be very concerned. How serious does Odyssey take its ongoing lawsuit again Doc, or "Jim McManus" as he's known in the real world? Enough so to add a question about the status of the case to the annual meeting Q&A:

What is the status of the McManus defamation lawsuit?

On September 5, 2007, Odyssey filed a two-count Complaint against Jim McManus for libel and libel per se. In its Complaint, Odyssey cited to over 20 postings made by Mr. McManus on the Yahoo Finance Message Board that Odyssey maintains are defamatory. Mr. McManus initially responded to the Complaint on October 7, 2007,
maintaining that he “never knowingly posted false information” concerning Odyssey. Since Mr. McManus’ initial response, Odyssey has filed several motions to compel Mr. McManus to comport with the rules of civil procedure and to properly answer each numbered paragraph of the complaint. Mr. McManus finally complied on March 17, 2008. In addition to answering, Mr. McManus has filed several Motions to Dismiss. In this regard, Odyssey recently received an Order from the Court striking all three of Mr. McManus’ Motions to Dismiss. Odyssey now intends to engage in discovery which it will utilize in support of a motion for summary judgment.

In general, we do support any individual’s right to voice his or her opinion, whether that opinion agrees with or is contrary to Odyssey’s position. However, when defamatory comments are brought to our attention that may adversely affect the value of our company, we have a duty to protect our stockholders’ interests, and we consider appropriate corrective measures.

Well Jimmy Boy, it would appear you're not in Kansas any more. The real world is beckoning and we suggest you sit up and take notice. Recess is over, son.

Regardless of your plans, we're going to sit back and enjoy the show!