Legal action against OTC traded company LATF

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skovaz

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Hi,

I apologize in advance if my story lacks needed detail, I will be glad to provide additional information if needed upon request.

I am one of the many investors in a pink sheet stock of LATF (Latteno foods);

this company allegedly owned a few subsidiaries, one of wich was a seafood importer which brought the bulk of revenue for the company (over $12 millions per year apparently).

apparently, after a period of silence lasted many months, a new CEO was appointed, which stated he could not find any document to prove the affiliation of this company (named Vstar seafood) to LATF.

the old CEO of LATF has effectively removed that, and possibly other companies from the main entity without shareholder knowledge and apparently left LATF as a shell.

Vstar seems to be based in California and has the old LATF CEO as registered agent.

without Vstar, LATF is only dealing in Mj research and might hold as much value as any other hopeful startup on the OTC ($0). also they erogated around 10 billion shares prior to this move.

A lot of investors claim that there should be a legal process to force the companies removed from LATF back, however I am not familiar with the issue and wanted to ask here the following:

Is there anything that can be done to either recoup the investment in this, now empty shell of a company?

If so, what would be the possible action to take?

please let me know if there are precedents on issues like this so that any legal action necessary can be structured the right way without risking losing extra money in unnecessary legal actions.

thanks in advance for your help in the matter.
 
There are very FEW protections for people who purchase NASDAQ and/or NYSE stock.
There are even FEWER protections (as in almost NONE) for those who succumb to the enticement to purchase OTC stocks.
Most OTC stocks are simply scams.
These OTC stocks tout massive returns on small exchanges of LOTS of your loot.

Here, read this:

LATTENO FOOD CORP (LATF:OTC US): Stock Quote & Company Profile - Businessweek

LATF Stock Price & News - Latteno Food Corp. - Wall Street Journal

As someone who occasionally plays in OTC stocks with money I am prepared to LOSE, I caution all to not lay out more than $100 to $200 per trade, and if any gains are shown get out of the deal. Don't linger expecting to turn one hundred bucks into one million bucks.

I see no legal action in which you could recoup a dollar of your losses, even if you were to prevail in your lawsuit. The company is Brazilian, and its assets seem to have never existed. Its business model was flawed, and probably some dude in Brazil has become a millionaire using the money BAMBOOZLED from unsuspecting DUPES all over the planet. Last, but most importantly, Brazil is notorious for NOT having treaties of extradition with most of the civilized world. That also includes Brazil's lack of reciprocity for honoring foreign judgments.
 
Hi, thank you for the quick reply,

I understand the case about OTC stocks in general, my curiosity is in the particular case of an actual working, revenue generating company(Vstar), being removed from the LATF umbrella without sale or notice, with he CEO abandoning LATF completely AND still running Vstar separately. is that something that can be legally reverted?


I mean, I understand a pump and dump setup where rumors inflate a worthless stock, and i understand a startup can fail, but I hope that a multimillion company used in the financials being yanked out after selling 10 billion shares could be seen differently.

Besides the OTC part of it, isn't it a fraudulent practiced that can be rectified in court?

getting that company back int he mix would indirectly resolve the stock issue :)


let me know your thoughts, thanks!
 
Hi, thank you for the quick reply,

I understand the case about OTC stocks in general, my curiosity is in the particular case of an actual working, revenue generating company(Vstar), being removed from the LATF umbrella without sale or notice, with he CEO abandoning LATF completely AND still running Vstar separately. is that something that can be legally reverted?


I mean, I understand a pump and dump setup where rumors inflate a worthless stock, and i understand a startup can fail, but I hope that a multimillion company used in the financials being yanked out after selling 10 billion shares could be seen differently.

Besides the OTC part of it, isn't it a fraudulent practiced that can be rectified in court?

getting that company back int he mix would indirectly resolve the stock issue :)


let me know your thoughts, thanks!

Without boring you and belaboring the issue, the company is out of Brazil.
Who do you think you can sue, and where will you pursue that lawsuit?
EVEN IF you brought a lawsuit, how do you think you could be paid? LATF is broke, its nothing but a shell.
 
Hi, I don't really care to make them pay: Thu Le the old CEO took Vstar out of LATF and he is still the CEO and owner of Vstar, the move seems to be aimed precisely to get rid of shareholders.

The question is if this action can be brought to court attention and reversed, thus bringing back Vstar under LATF umbrella, giving back a viable company to the shareholders.

Also, I am not sure where you found the company being in Brazil... here is the information I found: let me know if I am missing something, thanks!

Latteno Food Corp. is a Delaware Corporation filed on August 24, 1994. The company's File Number is listed as2428903.

While V star (showing Vu Le as registered agent) is here

V-Star Seafood, Inc. is a California Profit Corporation filed on September 25, 2014. The company's filing status is listed as Active and its File Number is C3714250.

The Registered Agent on file for this company is Vu Anh Le and is located at 17150 Newhope St, Ste 214, Fountain Valley, CA 92708. The company's principal address is 17150 Newhope St, Ste 214, Fountain Valley, CA 92708.


Now I am a bit fuzzy on the details, but apparently the seafood subsidiary company was called Mekonza,

Mekonza Corporation is a California Profit Corporation filed on November 7, 2013. The company's filing status is listed as Active and its File Number is C3618221.

The Registered Agent on file for this company is Vu Le and is located at 17150 Newhope St Ste 214, Fountain Valley, CA 92708. The company's principal address is 17150 Newhope St Ste 214, Fountain Valley, CA 92708.

I am not 100% sure of how or when things changed, but V star now seems to have Mekonza's contracts and apparently was created during the start of a "PR silence" period that lasted till now when Vu Le abandoned LATF altogether (or Thu Le did and Vu Le is his family member, that I don't remember clearly)
 
Hi,

My goal here is not to make them pay anything.

Thu Le the old CEO took Vstar out of LATF, also appointed a family member (Vu Le) as agent for V star. The move seems to be aimed precisely to get rid of shareholders.

The question is if this action can be brought to court attention and reversed, thus bringing back Vstar under LATF umbrella, giving back a viable company to the shareholders.

Also, I am not sure where you found the company being in Brazil... here is the information I found: let me know if I am missing something, thanks!

Latteno Food Corp. is a Delaware Corporation filed on August 24, 1994. The company's File Number is listed as2428903.

While V star (showing Vu Le as registered agent) is here

V-Star Seafood, Inc. is a California Profit Corporation filed on September 25, 2014. The company's filing status is listed as Active and its File Number is C3714250.

The Registered Agent on file for this company is Vu Anh Le and is located at 17150 Newhope St, Ste 214, Fountain Valley, CA 92708. The company's principal address is 17150 Newhope St, Ste 214, Fountain Valley, CA 92708.


Now I am a bit fuzzy on the details, but apparently the seafood subsidiary company was called Mekonza,

Mekonza Corporation is a California Profit Corporation filed on November 7, 2013. The company's filing status is listed as Active and its File Number is C3618221.

The Registered Agent on file for this company is Vu Le and is located at 17150 Newhope St Ste 214, Fountain Valley, CA 92708. The company's principal address is 17150 Newhope St Ste 214, Fountain Valley, CA 92708.

I am not 100% sure of how or when things changed, but V star now seems to have Mekonza's contracts and apparently was created during the start of a "PR silence" period that lasted till now when Thu Le abandoned LATF altogether.

Note also company address for Mekonza and V star (and registered agent) are the same...
 
LOL, I feel your angst and pain.
Unfortunately, scammers rarely pay.
Scammers are adept at hiding the fruits of their scams.

Latteno Food Corp. focuses on acquiring, organizing, developing, and upgrading companies in the food and beverage markets, with a focus on dairy and coffee industries. The company, through its subsidiary, Global Milk Ltd., produces and distributes dairy products under the Teixeira brand name in Brazil. It also offers medical marijuana edibles and related products/services. The company was formerly known as B&D Food Corp. and changed its name to Latteno Food Corp. in September 2009. The company is based in Markham, Canada.

LATF Profile | LATTENO FOOD CORP. Stock - Yahoo! Finance

LATF Income Statement | LATTENO FOOD CORP. Stock - Yahoo! Finance

Latteno Food Corp: OTCMKTS:LATF quotes & news - Google Finance

http://www.latteno.com/

Lexaria Corp: OTCMKTS:LXRP quotes & news - Google Finance

Lexaria Corp. is a food sciences company focused on the delivery of cannabinoid compounds procured from legal, agricultural hemp, through gourmet foods based upon its infusion technologies. The Company is engaged in developing and selling cannabinoid-based gourmet food products through its subsidiary ViPova and under the Lexaria Energy brand.

Lexaria Corp (LXRP.PK) Company Profile | Reuters.com

Lexaria Corp
Suite 950, 1130 West Pender Stre
VANCOUVER BC V6E 4A4
P: +1604.6021675
F: +1604.6857602

I confused the home base of the shell as Brazil, its actually Canada.

Suing a foreign national (which a company is too) from any US based court is challenging, and most often impossible.
 
I asked the same question..Am guessing you're the one who put this link on our LATF shareholder group page. If I knew how to delete my question I would. I'll prob. never return to this forum. Interesting though.
 
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