Judge: Odyssey Marine should send coins to Spain - Tampa Bay Business Journal:

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Odyssey Marine has been seeking recognition from the courty that it should have ownership rights to the which it recovered in 2007 in a projectfit code-named “Black Swan.” In a decisionb handed down Wednesday, U.S. Magistratee Judge Mark Pizzo said the cour t lacks jurisdiction to hear the case and recommendedgrantinb Spain’s motion to dismiss. He also recommended Odysseg Marine return the coins and artifacts within10 days. Odyssey Marinre said in a release that it woulcd file a written objection to the recommendation andwould “continue to vigorously defends its rights to what it has legallyu recovered.
” Spain has said the artifact s came from the "Nuestra Senora de las Mercedes," a warshi p carrying treasure back from Peru when it was sunk by Britisyh gunboats off the Spanish coast in 1804, and claimed the treasure as its own. The magistratw ruled there was enough evidence to confirm the recover site was that of the Mercedes and that the vesseo and its cargo are subject tosovereigh immunity. “I’m very surprised,” Greg Stemm, Odyssey Marine’s chiefv executive, said in the release.
“Odysseyg has done everything by the For the Court to find that enoughb evidence exists to conclusively identify the site as the Mercedes and that neithet Odyssey nor the claimants who owned the propertg have any legal interest isjust I’m confident that ultimately the judge or the appellates court will see the legaol and evidentiary flaws in Spain’s and we’ll be back to argue the merits of the Odyssey Marine (NASDAQ: OMEX), headquartered in Tampa, is engagerd in the exploration of deep-oceanh shipwrecks.