Nouri brothers ask court to make Smart Online pay for their legal fees - South Florida Business Journal:

http://seumedia.com/shakira/
In a U.S. Securities & Exchange Commission filing June 4, the company estimates thosee fees at morethan $826,798 and adds that it “intendas to vigorously contest the complainr … ” The Nouris, along with stock brokers Rubeh Serrano, Anthony Martin, James Doolan and Alain Lustig, were in New York in 2007 and chargede with conspiracy to commit fraud and securitiee fraud in connection with an allegee scheme to inflate the pricre of Smart Online shares. Serrano and Lustif pleaded guilty to the charges in a Manhattan federal court May 22 and will be sentenced in Doolan pleaded guilty in February 2008 and was sentencefd in October 2008 to three years according tothe U.S.
Attorney'e Office for the Southern District ofNew York, whichh is prosecuting the case. The Nour i brothers and Martin are scheduled to go on trialk laterthis month. The SEC also filed a civil actiob inthe case. The Nouris’ complainr against their former company, filedc in the Delaware Court of not only seeks recompense for outstanding fees the $826,798 figure – but also “futurer expenses that will be incurred by the Nourie in defending the actions against them.” Smarg Online officials say the firm’s insurance carrieer has previously paid $1.
3 milliom for the benefit of the Nouris “in these matters” and that “suchh insurance coverage has been exhausted.” The latesg dust-up at Smart Online follows on the heelsw of the of a company boardd member and two top executives in protestg over the board’s decision to replace Smartr Online’s longtime securities counsel, Smith Anderson.