Replies to post #81906 on CyberKey Solutions fka CKYS

[headcounselor]

I am sure Plant is broke, but there were others in his organization that we might be able to go after. I think Heaton would be a good start!

[Dickmo]

The 80K judgement is against the company. The shareholder suit would be independent of the company. The questions are, who to sue and do they have enough money to make a suit worthwhile.

You can't sue Sullivan unless he was formally made an officer or director of the organization. He'll just claim he was lied to just like all the shareholders, Big Apple, SmallCapEngine and the like. Unless he was an officer or director, he had no fiduciary responsibility to see that what he was promoting was legit. He would have no more at risk than a magazine that took an ad from CyberKey.

That's my take on Sullivan. IMO, we have Heaton, Krautheim and Big Apple, but only if we can show that they knew or should have known that Plant was selling stock to fund the company. If they knew he was raising millions, they should have put two and two together and figured out that something was wrong. Why would Plant be raising millions selling stock when he had millions in the bank?