From Carlton Johnson's declaration, he didn't seem concerned, nor did he complain about the commingling occurring; only about how much the MMP received.

Even if, absent actual knowledge, the red flags were there for announced non MMP licenses beginning in 2007, which should have alerted them to at least question the comingling issue potential back then; let alone the value apportioned to each separate patent license if the same licensee purchased or was going to purchase MMP and non MMP licenses.

There had been press releases long before "late 2008" where exclusive TPL IP licenses were announced in the same quarter as some MMP licenses were.

Also from the 1st amended complaint:

Ninth Cause of Action

"59. The ComAg specifies criteria by which TPL may write MMP licenses. The ComAg does not authorize TPL to compromise the consideration received for MMP licenses by weighing license consideration in favor of Fast Logic, Core Flash, Chipscale or other TPL intellectual property. Except in specified circumstances which have not been present, the ComAg provides that MMP license terms require PDS Management Committee Consent."

Notice that Carl's objection in 2008 was to "compromising the consideration" of the MMP, not to commingling the different license purchases.

So, in 2009 at the ASHM, did Gloria communicate fraudulent information to investors when she said that she was satisfied with the accounting while disregarding or not disclosing Carl's now publicly revealed inquiry and objection to TPL made in 2008 ?