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Securities, Lawsuit/or Class action question?

Discussion in 'Banking, Finance, Investments' started by JJ49120, Aug 11, 2015.

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  1. JJ49120

    JJ49120 Law Topic Starter New Member

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    Have a shareholder question. I am a shareholder of a publicly owned company by the name of Latteno Food Corporation. It's Chief Executive Officer is John A. Pinheiro from Bridgeport Connecticut (currently lives there). Pinheiro claims his headquarters is in Denver, Colorado. There are no employees there and the address for their headquarters is a virtual address and not a physical address. I'm not sure how to file a fraud complaint, but here are my concerns. The company removed several subsidiaries and their revenue streams from their balance sheets pertaining to their last quarterly report. They took all subsidiaries and their revenue off of their last quarterly report and have taken out loans. All of their subsidiaries both former and current are owned by family members with the last name of Le, same name as our last CEO Thu Le. The absconding CEO of the last six months has a name of Thu Le. The new CEO known as John A. Pinheiro has taken over this company has never been a CEO. He's an accident attorney by trade. He brought the company out of the dark after a delay of filing due dates. He owns 50% of the company, but it is 50% publicly owned. Well, LATF continues to operate a seafood company by the name of Mekonza/V-Star, Le owns both, but their own family claims all revenue from Chicken of Sea contract. Mekonza has been on our balance sheets for years. (They're the same seafood company basically) which has same physical address as what used to be on our balance sheets as subsidiary Mekonza. Le family members still own both even though JP (CEO) just publicly told us we own Mekonza. Le's also claimed 97 shipments (PANJIVA records) Chicken of the Sea contract as their own personal families income.

    State of Conn. is assigning my LATF shareholder group a state attorney (we represent around 100) We can't afford a law firm, but the state is interested in helping us- they're even asking us for a designated spokesperson. State of Mass has an investigation already started and Denver Col. is also now just starting to get involved, or at least starting to communicate with the shareholder group I'm a member of. Law firms are quoting us 25K just to start. The stocks worthless and it's been shelled out. Le families own the only subsidiary that made money (Seafood), and left with it. Mekonza/V-Star same address, but V-Star 97 shipments this year old that's around 3-4 million dollars a month all in the Le Family coffer. They took it with them. Latteno sucks has no money, but Le's have V-Star (97 shrimp shipments this year alone 8.00 pound hundreds of thousands a pounds every shipment) Will this wind up a family lawsuit? Le family even bragged to press, put out a big PR 97 shipments hits year alone!

    What can we expect the next steps to be? We are going to be assigned a state attorney from Conn., where the CEO is. The company is a crappy OTC pink sheet, but John owns 50%, Le's took most of what was real and shareholders have 50%. It's a shell now without the seafood.

    Thanks for your opinions. (Guessing Le family lawsuit, or J.P. ? He has 2 law firms for him). Bunker Law Firm/Nevada and Pinheiro Bridgeport and Le's are loaded via V-Star, what will happen and what should our shareholder group expect?
    Last edited: Aug 11, 2015
  2. army judge

    army judge Super Moderator

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    I suggest you be very careful when you choose to name and shame. There's no defense to accusing others of committing crimes when they have yet to be convicted.

    There's no way anyone could know what the attorney may or may not choose to do. I suggest you inquire directly of the attorney when he or she is made known to you.

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