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by Stockwatch Business Reporter
Aly Nazerali, the plaintiff in a libel trial against the Deep Capture website, returned to the stand on Monday morning as defence lawyer Roger McConchie continued his cross-examination over Imagis Technologies, a lively facial-recognition promotion from the early 2000s.
As previously described in court, Imagis received a go-private offer on March 6, 2002, from the Pembridge Group, chaired by Treyton Thomas. (The offer is of interest because on the day it was announced, Imagis's shares touched a 52-week high of $5.66, up $1.76 over the previous day.) All this came about two months after Imagis hired Pembridge Venture Partners as a non-exclusive financial adviser on Jan. 3, 2002.
Mr. Nazerali's testimony is part of a libel lawsuit he is pursuing against Deep Capture and others that allegedly defamed him in on-line postings in 2011. The postings claimed, among other things, that Imagis was a pump-and-dump.
On Monday, Mr. McConchie asked Mr. Nazerali to describe his initial interactions with Mr. Thomas. Mr. Nazerali recalled that their first face-to-face meeting took place over dinner at a hotel in Boston. He had said in earlier testimony that the meeting was in November or December, 2001, and was arranged after a man named Brad Harrington, who claimed to work for Pembridge, called Mr. Nazerali and invited him to meet Mr. Thomas. Today, after Mr. McConchie read from a pretrial interview in which Mr. Nazerali had said the meeting occurred "immediately prior" to the Nov. 9, 2011, closing of a $3.6-million private placement done by Imagis, Mr. Nazerali recalled that this was the case.
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