Today I Want to talk about how the Ape Conversion lawsuit is about to be dismissed? Over the next few weeks, new information has come to light to show just how ragtag and unprofessionalist lawsuit actually is. Meaning it will definitely be thrown out as frivolous and was likely simply used as a delay tactic by the Shorts. So stay tuned and let's make some money. And now on a dive.

Straight in with the information. So America tweeting a letter was far today to the judge in that allergenic lawsuit, Admitting the results of the shareholder vote is detrimental to Allegheny's frivolous claims. It says the recent eight vote reveals the plaintiff's claims have absolutely zero. Merit The letter says my motion did not argue that ultimate merits due to word limitations and because the company and I are aligned with respect to the ultimate disposition.

and he said that said, since the submission of my reply, a new fact has emerged that is detrimental if not fatal to the plaintiff's case. AKA To Ali Jenny's case it says of the common stockholders who voted at the March of 14th meeting for AMC specifically not on those Ape shares, approximately 70 percent voted in favor of the proposals. Now we know whether vote is concerned for the eight votes, any non-votes were counted as yes votes, but we know for AMC specifically they only counted votes and still 70 of votes said yes And he said the plaintiff's complaints collectively allege at least 12 times in their complaint that the company's proposal is contrary to the common shareholders. Wishes The vote has just revealed the exact opposite and it says of the common shareholders who cared enough to vote, an overwhelming majority sided with the company and the board, therefore not including those non-votes counted as yes, just simply looking at the actual votes.

Many Ape shareholders still obviously voted yes, at least 70 of them, and therefore, the recent vote does indeed reveal the plaintiff's claims to have absolutely zero Merit But on top of that, Allah's to the docket correspondence to the judge, and we've now got people who don't even represent us as Apes writing to the judge on Allegheny's but half. But fortunately, this letter written to the judge on Alejeni's behalf contained zero evidence, multiple spelling mistakes he even spells Adam Aaron incorrectly and has even accused Adam Aaron of working for the hedge funds. Now we know that Adam Aaron has tweeted multiple times that he is doing all he can to help AMC as a company and effectively cause the squeeze because he has such a massive financial interest in MC. You have to remember that he's pretty much so far done everything we've requested of him.

Even though he hasn't fed back a lot of information back to us which I do want him to do more of, he has at least considered everything we've suggested I obviously touched on in my video yesterday Why share? Intel wouldn't be useful and I've also touched on in a number of previous videos why an Nft dividend wouldn't really work either? Because obviously multiple other companies have done these exact same thing and their stocks still haven't squeezed and if anything, have gone down even further than AMC? This email basically suggests the AMC 8 conversion should not go ahead because he's 100 sure that CEO of AMC is involved with a hedge funds. This email contains zero evidence as to why an eight conversion and AMC reverse split is actually bad and simply says that he knows that Adam Aaron spelled incorrectly is working for a hedge funds. if anything, or this email brings attention to is the fact the SEC isn't doing their job by allowing these hedge funds and criminals to commit illegal practices which obviously isn't Adam Aaron's fault. and if anything, this email should really be addressed to the SEC to stop a legal hedge fund operations.

Now on top of that, Banana Saurus, we did some fun information on the AMC and ape lawsuit. It said Allergeni aka the plaintiff refused to do depositions before April 27th because AMC submitted 4 seven thousand pages of document Discovery and the plantif AK Allegany submitted none. They know they have no evidence whatsoever and are simply trying to delay the conversion and reverse split until after April 27th. Maybe there's something that's going to happen on or around April 27th or beforehand, but I'll touch on that later in the video, but so far it just seems like a clear attempt to delay the split, He said as the plantif refuses to depose prior to April 27th, it seems like it's purely a still tactic with no evidence.

As Crystal Ball tweeted, he said, it appears these individuals from Ali Jenny suing AMC are what you call vicetious litigants. That means that Ali Jenny on a regular occurrence, open frivolous lawsuits against all kinds of different companies. As Cristobal tweeted, he said to her, the plaintiffs both have a recent history on filing lawsuits against other individuals and companies. Obviously, these lawsuits tend to go nowhere and tend to get thrown out pretty quickly.

The first lawsuit is against a company called Dmy Technology Group Now Dmy Technology Group was a spat or a special purpose acquisition company and they tried to open a lawsuit against Dny Technology for buying another company. So it seems like the motivations of Alex Jenny are simply to try and spread Fear And Delay the reverse split, trying to cost AMC money in the meantime, and giving the shorts more time to push the price of AMC's stock down. But obviously, fortunately, this lawsuit will soon be thrown out as frivolous, at least at April 27th at the latest. But now, why are they trying to delay till April 27th? Specifically, rather than just letting the lawsuit get broken out Now well as Victoria tweeted, AMC is still having glitches and it seems that even GameStop is having glitches as well with just how much value of GameStop is held by institutional investors.

And it seems that Fintel is marking GameStop on AMC at a different price per share compared to what it's actually trading for. Right now, we can see with GameStop specifically, the market cap for GameStop is 7.2 billion dollars. But yeah, institutions are somehow holding 27 billion dollars worth of shares. Institutions are holding 91 million shares of GameStop valued at 27.7 billion dollars.

That means clearly, these institutions are using a higher value for GameStop to meet their margin requirements. but it also means the true value of GameStop is likely not the current trade value, and the exact same thing is happening with AMC As well, institutional investors hold 134 million AMC shares, but those are valued at five billion dollars. That means they're currently valuing GameStop shares around 300 per share. and they're also valuing AMC shares well over 50 per share as well.

Now, obviously, neither Game Stop nor AMC is trading anywhere close to 300 or 50 at the moment, but they're still using these higher values. Maybe these institutions are clearly expecting the price of GameStop and AMC to increase significantly over the next few weeks, and that's likely because as unusual, Wells has tweeted, JP Morgan believes that right now, the market is already past the point of no return. JPMorgan says the US is probably headed for a recession as economic engines are about to turn off. That means that at this point, a recession is practically guaranteed and they're expecting the stock market to crash heavily.

And obviously we know that if the market does crash heavily, if many hedge funds end up being liquidated, that will cause the squeezers, these hedge funds will be forced to close out of their short positions. But I do have a quick warning for you if you're currently using Robin Hood as Robin Hood have just changed their customer agreements as suspended POS tweeted He said in case anyone missed this Robin Hood changed customer agreements and now added that if you use abusive language towards them, they will close your account. He said it's a huge red flag. He said they need an excuse to jack your shares and force you to take a loss, and he said that potentially tells him they're going to pull some more malarkeys soon, the price of AMC and GameStop are likely to explode again, and the buy button could soon be taken away.

Once more or effectively, your account just closed. As Biotech Moves tweeted, he said: note the Robin Hood policy covers inappropriate conduct towards Robinhood and its Affiliates and he said that means Citadel He said that funny meme you retweeted about Citadel yesterday just gave Robin Hood the right to sell your AMC ape and GameStop IUS at their convenience and close your account. I Also wanted to quickly touch on Gary Gensler's massive problem right now. Gary's tweet is saying that today's markets are not as fair and competitive as possible for individual investors, and he said therefore to modernize our market system and make it work better for everyone.

We made four proposals on key parts of our Equity market system. Now, obviously none of these proposals actually address the unfairities in the market or help fix illegal hedge fund operations. for what Gary Gensler is asking for is a massive increase to the SEC budget. Now, while the SEC does need a budget increase to fight illegal short sellers, it's likely they probably won't receive this increase.

Gary Gensler has attended Capitol Hill to discuss why he needs a massive budget increase for effectively empty buildings that do zero work many members of Congress obviously don't like. Gary Gensler because of his massive recent failures and his massive recent blunders. Therefore, Garagons are likely isn't going to get the budget increased to effectively make markets Fair Effectively, Garius shot himself in his own foot. He knows that he needs more money to fight illegal Market manipulation, but he's not going to get that money because of his recent blunders.

So therefore, it looks like once again that the SEC will still probably end up being useless over the next year or two. I Think what we really need to see is a complete reform in the SEC without Gary Ginsler for them to actually get an increased budget to fight Market manipulation. But guys, be sure to let me know what you think down in the comments below. And as always, guys, be sure to ding that notification Bell because that way you'll be alerted.

Why not up at a new video? Cheers!.