Lawsuit Withdrawn Against IMAX Corp. (NASDAQ: IMAX)
IMAX Corporation (IMAX) reported earlier today that Catalyst Fund Limited Partnership II has officially withdrawn their pertinent lawsuit against the company. Catalyst was seeking to invalidate the general consent that was reached in the company deciding to extend the filing deadline for the company's financial reports and debt default status. IMAX viewed the suit as being frivolous and without merit, and worked attentively towards having the case dismissed through the New York Supreme Court. It was not until October 9, 2007 that Catalyst asked the Supreme Court for their permission to have the civil suit withdrawn. However, Catalyst also filed…