Reliance Global Group Inc (RELI)

[shanak10]

Yesterday I spoke with one of my former stock club members who is a retired securities attorney and he said once an attorney is retained, they would obtain depositions, then obtain documentation that not only would include the September LOI, but every LOI published by the company from day 1, to validate thei legitimacy!
He highly recommended a firm in NJ we can go to, if it comes to that. He also said that the company conducted a questionable R/S in conjunction with the uplist to NASDAQ.
With just a brief cursory look at the PR's, he said SELL and take my losses and get the hell out ASAP!

With all due respect to your lawyer Most letters of intent ("LOI") contain some language that makes the LOI non-binding. Does that mean that the parties have no obligations, and can unilaterally back out of the proposed deal? While each situation is fact-specific, in most situations and subject to some limitations, a party can back out of the deal.
And what makes you think that $RELI backed out of an LOI? Maybe the other companies backed out of them, IF INDEED THE CASE IS SUCH THAT SOMEONE BACKED OUT OF AN LOI, and I am not saying this is the case.
Did your lawyer also mention what was questionable regarding r/s?
I am glad you are consulting with a lawyer as this will make your decision regarding $RELI much easier and I wish you lots of luck whichever route you take.