Received email from apple "and use the monetary reward to buy back and retire the illegitimately issued shares." Are these our restricted shares? If so _ I gladly just give them back and save the time.
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On August 1, 2007, Evans Systems Inc. filed a lawsuit in the United States District Court for the Northern District of Texas, Dallas Division (Docket Number 3-07CV1332-D) against Evans' former directors, Fredrick Wicks, Brian D. Riley, and Ian Riley. Evans alleges that on October 11, 2006, Wicks, Riley, and Riley issued to Homeland Integrated Security Systems, Inc. 31 million shares of EVSY stock for no compensation and without a legitimate business purpose. Further, Evans alleges that Wicks, Riley, and Riley were beneficiaries of the stock issuance, and that the transaction constituted self dealing in violation of Wicks', Riley's, and Riley's duties to the Company. Evans seeks to recover the illegitimately issued shares that were distributed to Wicks, Riley, and Riley, as well as the monetary value of all 31 million shares as of the date they were issued. Should Evans prevail in its claims against Wicks, Riley, and Riley, Evans intends to retire any shares its recovers and use the monetary reward to buy back and retire the illegitimately issued shares.
AI
