02 Jun Len Krick: Some Good News
COMMENT FROM TOM WEST:
And the saga continues…
Below you will find Len Krick’s latest update to me regarding his issue with the State of Nevada’s Securities Division. If you are not yet familiar with what is going on, you will want to read theprevious postings regarding Len Krick’s case. Certainly the information from Len concerning this issue is good news. The fact that the lawsuit goes on as does the federal inquiry, doesn’t lessen the attorney fees or the time it must take for Len to deal with this issue. If you would like to contribute to Len’s legal fees, as many already have, just email me and I will follow up with instructions on what to do.
The fact that Nevada has seen fit to issue a “no action” letter may inspire other states to follow suit.
I was able to resolve my issue with the State of Nevada’s Securities Division late last week. Until the “case is closed,” I agreed not to discuss specifics. At that time, I will provide some very interesting, and precedent-setting documents.
Suffice it to say that they dropped their investigation, issued a No-Action Letter, and approved our proposal on three alternative ways a Business Broker in Nevada can conclude a transaction that converts from an asset sale to a stock sale. The good news is that, at least in the State of Nevada, no one has to fear the securities Division, if they follow the specific rules (2 of which also comply with Federal Law.)
Obviously, aside from the tremendous psychological costs, loss of valuable time, and the cost to produce all of my records for the past 5 years, I still have huge legal expenses incurred in defending myself against the Nevada State Securities Division.
Len Krick, MBA, SBA, CMEA