In case 15-CV-02469, Filed 9/30/2015 (Link to Court Docs) Plaintiffs Robert Sexauer, Jonathan Schwarts, Natasha Labban, Regenastem Inc., Cell Innovations Pty LTD, Allwin Scientific Corp, and PBH Holdings LLC seem to have very substantial claims against SVFC. (most are employees and/or franchisees)
My friend is invested in SVFC (deep in the red) and I decided to do some research this weekend. I read the court papers for the aforesaid case (Yes, 62 pages. It's a good read and I encourage everyone to read it). Thereafter, I examined the most recent offer letter to shareholders. The letter offers "accredited" investors preferred shares.
In the United States, for an individual to be considered an accredited investor, they must have a net worth of at least one million US dollars, not including the value of their primary residence or have income at least $200,000 each year for the last two years (or $300,000 together with their spouse if married) and have the expectation to make the same amount this year."
My Question Is This: Instead of using the wait and pray technique (I truly home there is a catalyst that will get this out of limbo), has anyone engaged a law firm to see if you have a viable class action lawsuit here? I would like to see my friend recoup every penny and then some.
I stumbled upon SVFC years ago, shared it with this friend, and he invested thereafter. I'm sure many are in the same/similar situation.
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