The SEC has filed a motion requesting that a chapter 11 trustee be appointed for all of the Debtors.
- Read the full text of the motion here.
Securities fraud attorney Jeffrey Sonn, founder of the Sonn Law Group, made the following comment in response to the motion:
“Mr. Robert Shapiro should be thrown out and a receiver put in his place. His hand picked manager Larry Perkins and his attorneys at Gibson Dunn failed to stop the sale of unregistered promissory notes after they were hired. That shows, in my opinion, that this case should not continue as a chapter 11 debtor in possession case. This case needs an SEC receiver now.”