Legal Question in Securities Law in Arkansas

Is this a case of securities fraud?

The president and sole shareholder of a subchapter S corporation in Arkanasas offered to sell me shares in the company. I agreed and wrote the company a check and indicated in the memo field that it was an investment. Now the president is claiming that the money was a gift to the company and that I am not entitled to any shares. I have a document with the vice president's handwriting on it that clearly indicates that we were negotiating a deal for an equity position in the company. I never received a propectus and I don't believe that the securities were registered.

Can I file a complaint for securities fraud? If so, to what agency?


Asked on 4/23/04, 9:37 am

2 Answers from Attorneys
Andrew Nichols Law Office of Andrew B. Nichols

Re: Is this a case of securities fraud?

I would be interested in speaking to you about this case. Is this corporation still in existence? I would also suggets you contact the Arkansas State Securties Board. Please give me at call at (972) 231-5500

Read more
Answered on 4/27/04, 5:11 pm
Harvey Harris Harris Law Firm

Re: Is this a case of securities fraud?

The Securities Exchange Commission (SEC) is the ones to contact. I am not certain they will handle it if the securities weren't registered, but they can definitely tell you who does, if they don't.

Have you been able to get your money back from the company?

Read more
Answered on 4/23/04, 10:29 am


Related Questions & Answers

More Securities Law questions and answers in Arkansas