EnergyTec Inc. Case 11/20/2007

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Company Name(s): 
EnergyTec
Case Name: 
EnergyTec Inc. Case 11/20/2007
Case Status: 
Lawsuit Filed
Affected Securities
OTC: EYTC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/20/2007
Summary: 

The complaint, filed on November 20, 2007, alleges that the Defendants have been operating a scheme to defraud investors involving the offer and sale of unregistered securities, through unregistered broker-dealers, using the interstate mails and other means of interstate commerce in violation of federal and state securities laws. In furtherance of their scheme, and to aid in inducing the Plaintiff to invest, the Defendants made oral and written false, misleading, and fraudulent statements to the Plaintiff in violation of federal and state securities laws, state statutory laws, and state common law, filed false reports with the United States Securities and Exchange Commission, fraudulently concealed their actions from the Plaintiff, unlawfully converted the Plaintiff’s investment funds, and breached their contract with the Plaintiff.