The First Magnus lawsuit was a ground breaking event in real estate. In a recent Maria Gudelis press release, it was revealed that the fifty million dollar counter claim against First Magnus had not been successful, since that business declared bankruptcy. Her concern is that in this Internet age, the details of such suits get distributed about the Internet (and not always in context). That sort of activity can be damaging, even when the outcome of a lawsuit was favorable. The case was dismissed against all defendants without prejudice. Gudelis is a real estate investor who has been featured on television and web sites.