After 15 Years you figure PWEB pacific webworks would come up with something that gets their stock worth more than a couple pennies.
How long do they need?
There are way more than a couple of complaints..LOL
The complaints are worldwide.
Lack Luster always fizzing ... worth a couple of cents a share after 15 years ... dang... fizzle
Now a shareholder lawsuit.. Claiming fraud...
Defendants protecting their assets after being sued for fraud.. etc, etc, etc, etc...
If it walks like a duck..... Oh yeah...
Christian Larsen did have conflicts of interest while working for Pacific Webworks in my opinion... Lets take a Look :)
Christian Larsen resigns PWEB effective May 20th 2011
Lets see how some of the Shareholders claims add up:
These are some of businesses..
1. OUTDOOR, LLC, THE UTAH DOMESTIC LLC Filing Date: November 09, 2010
2. DOWN RANGE, LLC UTAH DOMESTIC LLC (This one has great connections with other former PWEB board members & managers.. more to come) Filing Date: March 24, 2011
3. STUART THOMAS, INC. UTAH CORPORATION - DOMESTIC - PROFIT Filing Date: August 12, 1997 (This one is interesting considering the names in the asset protection trust) NOTICE TO CREDITORS
Settlor, Christian R. Larsen, currently residing at 873 Country Lane, Farmington, Utah 84025, and Trustee, Stuart M. Thomas, currently residing at 887 Country Lane, Farmington, Utah 84025, hereby publish notice that the following assets were transferred into a Utah Domestic Asset Protection Trust on June 10, 2014: 100% membership interest in Silent Members Investments, LLC, a Utah limited liability company. Creditors are required to present claims to the above Trustee within 120 days from the first publication of this notice or be forever barred. Date of first publication: June 26, 2014. C-926 6/26-7/10
3. RIDGE RIVER, LLC UTAH DOMESTIC LLC Filing Date: November 16, 2010
47. By usurping the opportunity, Defendants placed themselves in a position contrary to their fiduciary duties of PWW and for their own personal gain, and violated their fiduciary duties and duties of loyalty."
2nd Cause of Action. Breach of Fiduciary Duty and Corporate Waste. Including "52. Among other things, Defendants violated these duties and committed corporate waste by: a. Using corporate assets and resources for their own personal gain; b. Using corporate assets and resources in order to usurp a corporate opportunity and to develop such opportunity; c. Using corporate assets for personal vacations; d. Failing to conduct appropriate due diligence and investigation regarding the alleged experience and qualifications of persons hired for various management positions; f. Failing to hold regular and appropriate meetings of the Company's shareholders; and k. Failing to timely prepare and/or file quarterly and annual reports with the Securities and Exchange Commission, thereby resulting in the de-listing of PWW's shares and their resulting diminution of value."
3rd Cause of Action. Derivative Action - Self Dealing. Including "56. Defendant Lance Bell, while acting as a fiduciary of PWW, caused PWW to enter into a self-dealing contract with himself. a member of the board of directors and officer of PWW." and "59. Lance Bell caused the Company to enter into this self-dealing transaction without disclosing the transaction to the shareholders of PWW, without conducting a formal vote of the members of the disinterested board of directors or shareholders, and without seeking ratification by the shareholders of PWW."
4th Cause of Action. Civil Conspiracy. Including "64. All Defendants combined for the objective to waste corporate assets of PWW and usurp corporate opportunities of PWW." and "65. The Defendants had a meeting of the minds in order to accomplish this object." and "66. Defendants engaged in one or more unlawful, overt acts, including, but not limited to, breaching their fiduciary duties and duties of loyalty, using corporate assets for their own personal gain, and engaging in fraud to cover up their wrongdoing."
5th Cause of action. Constructive Trust. Including "69. Defendants wrongfully deprived PWW of the value of certain corporate assets as set forth herein through their wrongful conduct and mismanagement of the Company's assets and affairs and usurpation of corporate opportunities." and "70. Defendants will be unjustly enriched if permitted to retain unencumbered ownership of such assets and opportunities or their value, which assets and opportunities at all times material hereto have rightfully belonged to PWW." and "72. Because Defendants' interest in such assets and opportunities or any other property acquired using such assets and opportunities are the direct and proximate result of Defendants' wrongful conduct, this Court should impose an equitable constructive trust upon such assets and opportunities in an amount to be proven at trial, together with the proportional increase in the value of such assets and any other property acquired using such assets and opportunities from and after the date that Defendants began engaging in the wrongful conduct set forth in this Complaint."
WHO TO BELIEVE??
Over a years worth of Pacific Webworks DD on 1 page here:
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