Eaconomy drops Auvoria Prime lawsuit
Eaconomy has voluntarily dismissed its case against Auvoria Prime.
As per a stipulation of voluntary dismissal filed on December 1st;
The parties (who constitute all parties who have appeared in this case) have met and conferred regarding dismissing this action without prejudice.
Parties remaining in the lawsuit are Eaconomy and defendants Auvoria Prime, Sal Leto, Vanessa Leto, William Wynne and Joshua Phair.
From the sounds of it a settlement was reached, the details of which have not been made public.
As per the case docket, the court accepted Eaconomy’s dismissal stipulation and terminated the case on December 7th.
Our last update was three months ago, documenting Eaconomy’s unsuccessful effort to hold Auvoria Prime in contempt.
Eaconomy’s website is still up, however the company all but collapsed earlier this year. Current website traffic estimates by Alexa suggest Eaconomy didn’t recover from the infighting.
Auvoria Prime is still active and, pending regulatory action, will likely outlive Eaconomy.
To date US regulators haven’t taken any action against either company.
Eaconomy owners Hassan Mahmoud and his wife Candace have previously been targeted by the CFTC for fraud, resulting in a $75,000 fine.