Algorithmic Capital Markets Inc v. Universal Capital Holdings Group Inc
- Vyskocil
- 1:19-cv-10505
- U.S. District Court · Southern District of New York
- 1
In Algorithmic Capital Markets v. Universal Capital Holdings, Judge Vyskocil discontinued the settled action without costs, subject to restoration by January 4, 2021.
Algorithmic Capital Markets Inc. and Universal Capital Holdings Group Inc., the parties to the action.
What happened
Algorithmic Capital Markets Inc. v. Universal Capital Holdings Group Inc. was before the Southern District of New York after the defendant informed the court that the parties had reached a settlement in principle.
Judge Vyskocil ordered the case discontinued without costs to either party. The case could be restored if an application was made by January 4, 2021; otherwise, the dismissal would be with prejudice, meaning the action could not be brought again.
Mary Kay Vyskocil also adjourned all other dates and deadlines indefinitely. The order did not decide the underlying dispute.
The detailed version
- Algorithmic Capital Markets Inc v. Universal Capital Holdings Group Inc · No. 1:19-cv-10505
- Vyskocil
- Dec. 1, 2020
Background
The court received a letter from Universal Capital Holdings Group Inc. stating that the parties had reached a settlement in principle. The opinion does not describe the underlying claims or the settlement’s terms.
Ruling
The court ordered that the action be discontinued without costs to any party. It also ordered that the action could be restored to the court’s calendar if an application to restore it was made by January 4, 2021. If no such application was made by that date, the dismissal would be with prejudice, meaning the action could not be brought again. All other dates and deadlines were adjourned indefinitely.
Effect
Judge Mary Kay Vyskocil’s order disposed of the case based on the parties’ reported settlement in principle and did not decide the merits of the underlying dispute.
Read the full 1-page opinion on CourtListener, the free public archive maintained by the Free Law Project.