Thursday, August 07, 2008 8:09:05 PM
PART II
ITEM 1. LEGAL PROCEEDINGS
On July 20, 2007, the Company filed suit against its former investment banking firm, CapNet Securities, Inc. (“CapNet”) in the 189th District Court of Harris County, Texas.
The suit alleges that CapNet misappropriated and conspired with others to misappropriate 3,000,000 shares of CMMI stock that CMMI had instructed CapNet to acquire from a private party. After purchasing the shares, CapNet deposited them into the account of a CapNet affiliate, CNRE Investments #1 LLC, in breach of CapNet’s duty to CMMI. CapNet then refused to return the shares to CMMI upon CMMI’s demand.
The suit alleges that these actions constituted breach of fiduciary duty and conversion and seeks monetary damages equal to the market value of
the stock converted by CapNet. The suit also seeks a declaratory judgment as to CMMI’s and CapNet’s rights, status, and legal obligations under various legal documents.
http://www.hotstocked.com/10qsb/cons-medical-mgmt-CMMI-117451.html
GodBless - NoDoubt - creede
~> #board-7229
ITEM 1. LEGAL PROCEEDINGS
On July 20, 2007, the Company filed suit against its former investment banking firm, CapNet Securities, Inc. (“CapNet”) in the 189th District Court of Harris County, Texas.
The suit alleges that CapNet misappropriated and conspired with others to misappropriate 3,000,000 shares of CMMI stock that CMMI had instructed CapNet to acquire from a private party. After purchasing the shares, CapNet deposited them into the account of a CapNet affiliate, CNRE Investments #1 LLC, in breach of CapNet’s duty to CMMI. CapNet then refused to return the shares to CMMI upon CMMI’s demand.
The suit alleges that these actions constituted breach of fiduciary duty and conversion and seeks monetary damages equal to the market value of
the stock converted by CapNet. The suit also seeks a declaratory judgment as to CMMI’s and CapNet’s rights, status, and legal obligations under various legal documents.
http://www.hotstocked.com/10qsb/cons-medical-mgmt-CMMI-117451.html
GodBless - NoDoubt - creede
~> #board-7229
GodBless - NoDoubt - creede
~> #board-7229
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