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Microcap & Penny Stocks : GIFS
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To: Carl Pergler who wrote (5669)4/29/1997 6:01:00 PM
From: Bob Walsh   of 8012
 
Carl, it can make sense to let a state take action. Now the issue is on the table and if the state loses, then they probably will have to pay court costs (and possibly attorney fees for the winning side). If it was GIFS that brought the action they may have had to pay court costs as well as their own attorney fees. The states said that GIFS could not sell insurance or conduct insurance business. GIFS may have felt that they were abiding by the order since in their view they were not selling insurance or conducting insurance business and therefor there was no reason to vacate the order. Now the issue is joined.

Regards,
Bob
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