Two major lawsuits- That is funny. I would not consider MAGNA suing the YIPI CEO becuase he called them names and hurting their feelings major. Butt, there is one major lawsuit involving aleged corporate bribery and other that is major. See bottom of page to get some of MAGNA'S $50m mummies:
sign up to get some of MAGNA mummies. They will gladly be passing out $50m. $50m is chump change for the awesome MAGNA. MAGNA is so awesome they have 40 lawsuits filed against them- See one below- Alleged corporate bribery and other. Check out info at the bottom to sign up for some of the $50m:
New York, NY -
NEW YORK – June 18, 2015: Richard Granville, the CEO of technology company Yippy, Inc. (YIPI), filed a $50 million lawsuit in New York Supreme Court against the “death spiral” financier Magna Group LLC and its principals Josh Sason, Ari Sason, and Michael Abitebol.
The lawsuit, filed on June 16, 2015, alleges that Magna participated in a scheme to manipulate the price of Yippy’s stock. Magna’s “pump and dump” scheme involved the issuance of phony press releases, hypothecation and naked short selling of Yippy’s stock, and attempted corporate bribery, according to the complaint. Granville is suing Magna for fraud and unjust enrichment.
This lawsuit comes on the heels Bloomberg’s March 12, 2015 report about Magna and its founder Josh Sason entitled, “This 27-Year-Old Made Millions Riding the Death Spirals of Penny Stocks.” The Bloomberg article describes how Magna profited from the collapse of small, publicly traded companies that had borrowed money from Magna. (See article: http://bloom.bg/1HIedWP)
In March 2015, Granville posted statements referring to the Bloomberg article and describing Magna’s business practices. In response, Magna’s principals Josh Sason, Ari Sason, and Michael Abitebol sued Granville for defamation, claiming that his words had cause them “severe emotional distress.” Granville responded to the defamation suit by claiming truth as a defense: “Granville stands by these statements because, as discussed below, they are true. Granville is fully prepared to come into court, swear an oath, and defend his words and actions.”
The complaint adds: “As a businessman, a U.S. Navy veteran, and man of devout faith, Granville feels a moral and ethical obligation to help expose the truth of the Magna Parties’ business practices. In so doing, Granville’s objective is to save other entrepreneurs from the Magna Parties’ vicious and immoral business practices, and to see that the Magna Parties are brought to account for the jobs, companies, and lives that they have destroyed in the name of personal enrichment.”
Granville and Yippy are represented by the Manhattan law firm John H. Snyder PLLC, which has initiated an investigation into the broader business practices of the Magna Group in preparation for a potential class action. Any person or company who has been harmed by the Magna Group is welcome to contact John H. Snyder. Snyder may be contacted at (212) 856-7280 or john@jhs.nyc.
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