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Enterprising Investor

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Re: Enterprising Investor post# 42

Saturday, 05/23/2020 11:43:46 AM

Saturday, May 23, 2020 11:43:46 AM

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Motion to Amend/Correct/Supplement Complaint, by U.S. Small Business Administration (5/15/20)

The Receiver for Elk has brought this action against the defendants, the former officers and directors of Elk, for (1) breach of fiduciary duty, (2) ultra vires acts, (3) waste of corporate assets, (4) conversion, (5) negligence, and (6) gross negligence based upon the defendants’actions in approving, facilitating and/or executing the actions and transactions described in the Complaint, which caused the diversion of $14,271,038.00 of Elk’s funds to Ameritrans and its creditors without hope of repayment.

U.S. SBA as Receiver of Elk Assoc. Funding Corp. (2:17-cv-03586)

Source: PACER [Docket 147]

5

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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