CMKX - CMKM Diamonds Inc. - Hodges & Associates Interim Update On $3.87 TRILLION SEC Lawsuit...!! 4/27/2010

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) April 27, 2010 -- I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner. This “Interim Update” is the exception that proves the rule, so to speak. However, it has been a relatively long period [certainly more than I originally anticipated] since I communicated with the shareholders at large, and there is material information to impart.

Before providing some information about what has been transpiring and our current status, let me address a few other matters:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class.
• The Bivens action which I have filed not only sets forth the facts as I know them, it seeks to become a class-action on behalf of all shareholders.
• At this instant in time however, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class.

• In the unlikely event that this litigation continues forward, a motion will be filed with the Court requesting that a class be certified. If granted, at that point I will, presumably, be appointed by the Court to continue acting as counsel for the class; thereafter, the Court will be required to approve any and all settlements, and others matters.
• The status of the litigation can at all times be monitored on PACER; as a result, we do not respond to inquiries at my office; accordingly, please do not contact us directly for such information.
• For everyone’s information, all defendant’s have been served, and an initial scheduling conference, originally set by the Court to be held on April 26, 2010 has been continued by mutual agreement of the parties [with consent of the Court] to July 26, 2010.
• The litigation will be aggressively pursued until such time as all CMKX shareholders have been paid.

In a similar vein, please understand that we are not involved in any ongoing negotiations with the SEC and/or their representatives with a view to compromising and/or otherwise attempting to resolve claims of the shareholders. We have set forth in the complaint what the shareholders are entitled to receive; compromise is not anything that the shareholders want, desire, or would tolerate or accept.
The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Having said that, I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.

Full text of update at...
CMKX TREK - http://cmkxtrek.blogspot.com/2010/04/attention-cmkx-shareholders-hodges-and.html
Cmkx20Ten - http://cmkx20ten.blogspot.com/
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