shareholders sue kernaghan
Shareholders of NanoPierce Technologies, Inc., File Colorado Organized Crime Control Act Complaint Against Thomson Kernaghan, Jefferies Group, Inc. and Jefferies & Company, Inc., in Colorado State Court
DENVER--(BUSINESS WIRE)--Aug. 8, 2001--NANOPIERCE TECHNOLOGIES, INC. (OTCBB:NPCT - news), today announced that nine individual shareholders filed a Complaint on July 31, 2001 in the District Court in and for the City and County of Denver against Thomson Kernaghan, Jefferies Group, Inc., and Jefferies & Company, Inc., for damages incurred by them as a result of the defendants' alleged ``racketeering activities'' in a scheme to defraud and obtain property by false pretenses, in violation of CRS 18-17-104 (1)(a); 18-17-104 (2); 18-17-104 (3); 18-17-104(4). The suit asks for an injunction, threefold actual damages, attorney's fees in trial and appellate courts and all costs of investigation and litigation.
The suit was filed by the shareholders' counsel Kirk Holleyman Esq., Denver, Colorado, along with O'Quinn & Laminack and Christian & Smith of Houston, Texas.
Paul H. Metzinger, President and Chief Executive Officer of NanoPierce, said: ``It is our opinion that our shareholders also believe that their investment in NanoPierce has been seriously damaged because of the alleged illegal conduct of the defendants. Shareholders' counsel, by naming Jefferies Group, Inc., and Jefferies & Company, Inc., as additional party defendants, we feel, indicates the scope of the scheme to manipulate the stock, defraud the public and damage both the Company and its shareholders.''
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