Legal Question in Securities Law in New Jersey

Broker sold our ''private placement'' stock from his work .

Our coumpany sold stock as a private placement and under Reg.D, a person whom worked at a broakage firm sold our stock to clients of his. Do we have any liabilities to the people who bought our stock with out us knowing?


Asked on 10/26/05, 1:02 pm

1 Answer from Attorneys
Mark Astarita Beam & Astarita, LLC

Re: Broker sold our ''private placement'' stock from his work .

I don't quite understand how you have shareholders who bought stock without you knowing about it. You did a private placement, people subscribed, you issued stock, no? If you didn't receive the investment, and didn't issue stock, then they didn't buy stock.

This is not legal advice or an opinion, so please do not rely on it. I don't suggest that you discuss this in a public forum, if you want to discuss it further, feel free email me at [email protected]

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Answered on 10/26/05, 2:06 pm


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