Magna Group, Hanover Holdings, Jousha sason Fraud, Litigation, Breach of Contract, Scam, new york New York
Cereplast Sues Magna Group for Breach of Contract , Dec 12 , 2013 -- Cereplast, Inc. (OTCQB: CERP), a leading manufacturer of proprietary biobased, compostable and sustainable plastics, today is providing an update on the litigation against the Magna Group. On May 8, 2013, the Company filed in the Southern District of New York a lawsuit against Magna Group LLC and Hanover Holdings LLC for breach of contract, breach o f the covenant of good faith and fair dealing. The Action is seeking compensatory damages in an unspecified amount, plaintiff’s costs and attorneys’ fees, and unspecified equitable or injunctive relief.
2 Updates & Rebuttals
GSmith
Chicago,Illinois,
Magna Group SCAM FRAUD Joshua Sason
#3Consumer Comment
Tue, March 11, 2014
Magna Group is essentially an equity line funder and as such they provide a toxic funding formula in the form of an equity line with no price floor. For such a service, they charge almost $200,000 and collect other fees as well. As represented, they will push a stock price to near zero in order to make sure they are buying at their big discount and simultaneously selling it to the public, locking in their profit. Another name for "Equity Enhancement" should be DEATH SPIRAL, because that is what will happen to the company's stock price.
As an example please look at their involvement with FreeSeas, which has lost over 75% of its value over the last year.
"Magna Group" has been linked to pump-and-dump schemes (((link redacted)))
Kate
Other,Magna Group Failur to Perform
#3Author of original report
Tue, December 24, 2013
Magna Group destoryed the value of SMHS through illegal toxic financings. Magna Group used Kimberly Gruas who illegally did their legal opinions for these illegal fraudulent financings. She has now changed her name to Kimberly Rudge.
sec.gov/Archives/edgar/data/1324759/000119312513226268/d541186dex991.htm
Magna Group – Failure to pay, failure to perform
sec.gov/Archives/edgar/data/1324759/000119312513226268/d541186dex991.htm
investorshub.advfn.com/Clients-of-Magna-Group-and-Hanover-Holdings-25550/
biofuelsdigest.com/bdigest/2013/05/28/cereplast-takes-action-on-contract-violation/