Hansen Gray Seeks Permanent Injunction and Damages From Mark Gray for Fraud and Illegal Sales of Company Stock
Friday May 12, 11:00 am ET
LAS VEGAS, May 12 /PRNewswire-FirstCall/ -- Hansen Gray & Company, Inc. (OTC: HGCP - News), www.hansengray.com, announces that it has filed its Answer, Affirmative Defenses and has raised multiple Counterclaims in response to a law suit commenced by a former director, Mark Gray.
In his complaint, Mr. Gray seeks a Declaratory Judgment that he is the controlling stockholder of Hansen Gray and seeks to oust the current sole member of the board of directors and management.
The Company denies Mr. Gray's allegations and interposes affirmative defenses and Counterclaims alleging, among other things, that: Mr. Gray breached his fiduciary duties; Mr. Gray performed numerous acts of self- dealing; Mr. Gray converted Company assets to his own use; Mr. Gray conspired with others to commit Securities law violations; Mr. Gray defrauded the Company; Mr. Gray paid illegal commissions to unregistered brokers to sell stock of the Company and then substituted his own stock and converted the proceeds to his own use; Mr. Gray issued Company stock without the Company receiving consideration and by reason of Mr. Gray's fraudulent and illegal acts, caused the Company in excess of $8 million in damages.
The Company has moved the United States District Court to declare all of the stock standing in Mr. Gray's name null and void and is seeking damages in excess of $8 million. The Company believes that Mr. Gray's claims against the Company are without merit and will vigorously pursue its claims against Mr. Gray.
About Hansen Gray and Company, Inc.
Hansen Gray and Company, Inc. (OTC: HGCP - News) is a strategic venture capital firm that acquires or invests in companies, which through growth or acquisition, have the potential to become leaders in their respective markets.
Source: Hansen Gray and Company, Inc. |
