Maximum Financial Group Case 03/04/2008

According to a press release dated March 14, 2008, a class action has been commenced on behalf of a Class consisting of all persons who purchased unregistered securities from certain individuals, The Maximum Financial Group, Inc., Questar Capital Corporation or GunnAllen Financial, Inc. (collectively, “Defendants”) or otherwise acquired the common stock between January 1, 2000 and March 4, 2008 (the “Class Period”), against Defendants and certain of its officers and/or directors for violations of the Securities Exchange Act of 1934 and the Securities Exchange Act of 1933. The complaint charges that Defendants sold unregistered securities to class members in violation of Sections 12(1), 12(2) and 15 of the Securities Exchange Act of 1933, and in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The complaint alleges that, during the Class Period, Defendants sold class members unregistered securities in the form of interests in non-existent limited liability companies (“LLCs”) created by Defendant May and sold by Defendant Bluestein, through The Maximum Financial Group, Inc. and with the assistance of broker-dealer Defendants Questar Capital Corporation and GunnAllen Financial, Inc., in violation of federal securities laws and state laws.