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Thursday, February 08, 2024 1:28:13 PM
The complaint alleges 10 counts:
Two counts of securities fraud against Carnes, Davis and Morris.
Breach of fiduciary duty against Montel and Davis.
Two counts of breach of contract, one against TTG and the other against Davis and APSI.
Fraudulent inducement/recission of second amendment to multiparty stock purchase agreement against TTG and APSI.
Constructive fraud against APSI, Carnes, Davis and Morris.
Actual fraud against all defendants.
Statutory fraud against all defendants.
A claim for injunctive relief against all defendants.
Finally, the complaint is seeking damages, interest and costs.
Unfortunately the damage to the company is going to be irreparable, and I highly doubt that the defendants will end up actually paying whatever the damages end up being. This will be long drawn out, even with trail date next year... once they are found guilty there will be lengthy appeals processes to drag this out for years, while Carnes and Co continue to get away with other scams instead of being locked up in pound-your-ass prison where they should be.
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