We're getting our chance to try to have the CFTC charges dismissed this Thursday.

Documents 43, 44 and 46 are going to be the basis of the arguments from our side.
Link to docs: http://finance.groups.yahoo.com/group/op...

There will be a similar argument later in the day regarding the SEC case. Optionable is not named in the SEC case.

All cases directly impacting Optionable, CFTC, NYMEX and BMO are before this same Judge. In my opinion, (disclaimer: long shareholder who is not a lawyer) the CFTC is the most knowledgeable of the specific subset of the market in which Optionable dealt and is bringing the least damning set of charges. So in a way, it is my opinion that they would have the best chance of winning (since they are asking the Judge to acknowledge a smaller infraction than the others are asking - and they are the most educated about Options specifically) however........... Thursday's arguments are not really going to be about the details of the case.... the arguments are about whether or not the complaints can be dismissed based on the statements made in the documents mentioned above)

Here is what OPBL is going with:
1) CFTC failed to identify a Statute that was violated
2) CFTC failed to plead fraud with Particularity
3) OPBL had no duty to disclose to BMO that Lee was the source of the bids and offers

In my opinion, if they can argue #3 decisively then #1 & 2 don't even matter (again - only my opinion)

Time will tell............