1706506443 The dirty side of criminal Daniel Yu the Batman of

The court gives Daniel Yu and Gotham 21 days to respond to Grifols' lawsuit

The dirty side of criminal Daniel Yu the Batman of

The judicial system is in flux. The New York court where Grifols sued pessimistic investor Daniel Yu and his company Gotham City Research has issued subpoenas to the defendants, according to legal sources. This provides for a period of 21 days to appear and respond to the complaint, but with one limitation: the period begins on the day after the summons is served. What normally isn't a problem has a little more substance in this case: Yu is missing and the Gotham headquarters can't be found either.

The Clerk of Court has issued four subpoenas against the people Grifols sued. First of all: investor Daniel Yu. The lawsuit describes him as a criminal with a “bad” criminal history and is said to have changed his address frequently. It is also stated that, according to available information, he lives in Manhattan. However, the truth is that it is not clear where his address is. The court summons issued against him states that his “address [está] “despite reasonable care” to determine this.

“Within 21 days of service of this subpoena (not counting the day on which you received it),,” the subpoena states, “you must serve upon Plaintiff an answer to the attached complaint or a motion to proceed thereon.” “If If you fail to respond, a default judgment will be entered against you for the relief sought in the complaint. You must also submit your answer or petition to the court,” the justice secretary added in the letter.

Identical subpoenas are addressed to Gotham, whose address is also unknown, and to Cyrus De Weck, an ally of Daniel Yu who runs General Industrial Partners, LLP (GIP), an investment fund that is taking bearish positions to capitalize on the decline benefit from the quote that comes from the publication of the Gotham Reports. There is a fourth summons against General Industrial Partners itself, which in this case has an address in London.

The Spanish company accuses the pessimistic investor and his allies of defamation, business interference and unjust enrichment, according to the 78-page statement of claim filed in the New York courts and to which EL PAÍS had access. Grifols requests a jury trial, attempts to refute Gotham's thesis, highlights the falsehoods it contained in its initial report, and seeks damages. Additionally, he claims Yu is a convicted criminal and describes some of his illegal activities. The company expresses concern that some banks will not refinance their debt or charge higher interest rates due to the bearish attack. And it is warned that the report has prompted 13 law firms to prepare class action lawsuits against Grifols in the United States.

Grifols has commissioned the law firm Proskauer Rose LLP. The lawsuit seeks damages to be determined in the proceedings; Compensation for benefits wrongly received by the defendants; punitive damages in an amount “sufficient to deter further unlawful and improper conduct”; Costs and expenses incurred in connection with the action, including attorneys' fees and interest at the maximum rate permitted by the court. Additionally, Grifols seeks “any other relief that the court deems fair and appropriate,” the lawsuit says.

Grifols rose 4.3% on the stock market this Monday after learning of the contents of the lawsuit and the arguments it puts forward in its defense. It closed at 9.97 euros per title. However, it is still well below the 14.24 euros on January 8, the session before the publication of the report in which Gotham claimed its shares were worthless. The price fell by more than 40% on the day the report was published.

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