Generation Next Franchise Brands Inc. (fka VEND)

[Officiousintermeddle]

Yeah, Nick is a defendant in a half-dozen or so lawsuits, and that's probably just the beginning. He will almost certainly be sued by VEND's bankruptcy trustee, and maybe some of the other franchisees will decide to chase him. Securities class action lawyers tend to follow the money, and with VEND in an insolvent Chapter 7, I doubt they'll ever bother. But just the private litigation should be enough to sink Nick eventually.

I hate to say it, but the SEC seems not to bother with very many of the securities frauds out there, so who knows if he'll ever get nailed by them. I suppose if you and Sonata and others have filed complaints, there's a better chance, but my personal experience is that they decline to pursue a lot of very good cases.

The collateral damage to those who were too close to the action is noteworthy. The board members have been sued, and even though they are trying to get themselves dismissed, I doubt they'll get out of this mess whole. Ryan Polk also earned himself a spot as a defendant, as did some of the key employees, some of whom had been gone for a while. It pays to keep your distance from Nick.