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Lawsuit: AMP Futures Trading aka AMP Global Clearing
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Created: by Big Mike Attachments:43

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Lawsuit: AMP Futures Trading aka AMP Global Clearing

  #71 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
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tturner86's Avatar
 
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Having read the documents with no legal experience I concluded that their case had no merit. Good to see the court saw the same.

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  #72 (permalink)
Elite Member
San Diego
 
Futures Experience: Intermediate
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Big Mike View Post
It was brought to my attention today that this thread did not contain a link for users to make a donation to the legal defense fund.

I have added the link to post #1, but am posting it below as well:

https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=R94VQ7TQ63GXA

As of this posting, the funds raised by donation are not equal to the expense of the case. Thank you to those that have made a donation and to everyone for their support.

Mike

@Big Mike

Wow just read the transcript, better than reading an action novel, thanks.

If you can, what is the Total Court Cost divided by the number of Active users on Big Mike Trading?
Having this would give active users a better idea of what each "Active User's" fair share should be if they want to contribute or to contribute a second time as it appears there is still a money deficit regarding this court case.

Thanks in advance.

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  #73 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
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bd92154 View Post
@Big Mike

Wow just read the transcript, better than reading an action novel, thanks.

If you can, what is the Total Court Cost divided by the number of Active users on Big Mike Trading?
Having this would give active users a better idea of what each "Active User's" fair share should be if they want to contribute or to contribute a second time as it appears there is still a money deficit regarding this court case.

Thanks in advance.

Somewhere around ~ 17k, I haven't got the final invoice yet for July's billable hours.

It's hard to give a "users" number. 50k members, 8k visit daily. 133 have thanked post #1 of this thread, 37 have posted in the thread. There are too many wild cards, best to let everyone come up with their own figure if they want to contribute to the legal fund.

Mike

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  #74 (permalink)
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Big Mike View Post
Our fund raiser for the legal fund has not raised sufficient funds to cover the cost of defending against AMP.

As of this post, we need to raise another ~ $7,500 (approximate because I don't have a final invoice from my attorneys yet).
Mike

I don't know about U.S. law, but if they lost aren't they liable for all costs? Why do you have to pay costs for something where you are clearly not at fault? Doesn't make sense to me.

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  #75 (permalink)
Site Administrator
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keymoo View Post
I don't know about U.S. law, but if they lost aren't they liable for all costs? Why do you have to pay costs for something where you are clearly not at fault? Doesn't make sense to me.

In the US we do not have a default "loser pays" law. If we did, it would dramatically improve our legal system overnight...

My layman's understanding is that I would need to sue AMP to recover costs. It is something that hasn't been ruled out. I would like to see the "justice" in having them pay for the expenses they created, and would love to then be able to reimburse people who contributed to futures.io (formerly BMT)'s legal fund from the money recovered from AMP.

That said, it is not something I am presently pursuing. I reserve the right to change my mind of course.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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6)
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If you want
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  #76 (permalink)
Banned: trolling
NYC + NY / USA
 
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djkiwi View Post
@Big Mike

I'm not sure why you consider the need to continue to defend yourself. You were sued, you vigorously defended your position and won the case in front of a judge in a court of law. That's all that matters.

I think digging out posts from other forums and responding to them here is beneath you and a waste of energy. It's time to move on and focus on more positive things. Go and build that nice house, sit on the beach and kickback.

There is nothing more to say apart from Congratulations!

things turned out the way they should have!

in legal terms, when someone is told their case lacks merit, is a far greater slap in the face, than just losing...
so much for their hollow or empty barrel, since that is the latest phrase being bandied about...

what is good to know, is what we have supported, will continue!

cheers!

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  #77 (permalink)
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Andover, NY
 
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Big Mike Prevails (as he should have)

Congratulations. Let's hope this reduces future frivolous lawsuits of this (and any) kind.

The sun rises again!

JD
Cary, NC

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  #78 (permalink)
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Congrats

Congrat's Big Mike!
You stood up for your right's and the right of free speech and won your day in court.

A strength of character!

Much success,

Rachel

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  #79 (permalink)
Trading Apprentice
Dayton + Ohio
 
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Congratulations futures.io (formerly BMT)!
Need to show who is the Big Dawg...
chipped in my support.

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  #80 (permalink)
Trading Apprentice
new york city
 
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Conrats


I am surprised that the lawsuit went that far... What happened to free speech and on top of that evidence?

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