The group has announced that an order was issued Wednesday in Johnson County District Court dismissing all of the claims brought by MGP.
The court ruled that the company is not a beneficiary of, and does not have any legal protectable interest in the MGP voting trust. And, as a result, the company's purported goal of resolving these claims, before holding the 2013 annual meeting of stockholders, has been fulfilled.
MGP CEO Tim Newkirk was also dealt a major blow when the court ruled that he lacked standing to challenge the capacity, qualifications or decisions of the voting trust.
The Cray group said in a news release Thursday they believe that Newkirk and the Company's other directors brought this litigation solely for the purpose of entrenchment through delay of the 2013 meeting, which was meant to thwart the will of the stockholders. They call on the current leadership to cease these tactics and allow the meeting to take place as soon as possible.
The group has vowed to continue until the company holds the annual meeting.