JS Barkats PLLC v. Blue Sphere Corporation and Shlomo Palas
with the Supreme Court of the State of New York for the County of New York (the New York Court), Index No. 655600/2016. On October 26, 2016, without notice to the Company or Mr. Palas or an opportunity to be heard, the New York Court issued a Temporary Restraining Order (the TRO) in favor JS Barkats PLLC, prohibiting the Company and Mr. Palas from transferring or dissipating their assets to the extent of $652,000, pending the return date of JS Barkats PLLCs asset attachment motion, due November 17, 2016. On October 28, 2016, the Company received notice of the foregoing.
On October 31, 2016, the Company removed the Barkats Litigation to federal court, filed as
JS Barkats PLLC v. Blue Sphere Corporation and Sh lomo Palas
with the United Stated District Court, Southern District Court of New York, Docket No. 1:16-cv-08404.
The Company terminated the services of JS Barkats LLC in 2012 and believes the claims brought by JS Barkats PLLC are without merit, that the TRO was improvidently granted, and that JS Barkats PLLC misrepresented, mischaracterized and omitted material facts and the law in seeking the TRO. The Company intends to rigorously defend against the Barkats Litigation, the TRO and any other attempts to attach the assets of the Company.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Blue Sphere Corporation
Dated: November 3, 2016
/s/ Shlomi Palas
Name: Shlomi Palas
Title: President and Chief Executive Officer
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