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Microcap & Penny Stocks : OILEX (OLEX)
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To: CHRISTINE who wrote (4046)9/11/1998 4:25:00 PM
From: Steve  Read Replies (1) of 4276
 
Cases on their face may seem similar but there are substantial differences here that make them different in the kinds of remedies that the respective shareholders might expect to enjoy.

The case cited, I guess, by Saul is one of actual fraud combined with negligence and actual violations of truthful reporting. This case has got it all a couple of oldsters living in sin committing their last crime together, going out with a bang so to speak, the completely empty company, false press releases without a shred of truth, and dipping into the corporate treasury with the barest of cover. The Oilex case, if it becomes one, will likely turn on negligence statutes for remedy but this would require Saul to acknowledge the consulting contract which he won't do. The other similarities of the Reg S debentures is that they were properly placed in the case of Oilex but improperly placed in the case of the Members. So improperly place that the 96 year old nursemaid gleefully lied that she lived abroad.

The case of similar cases is a way to hone your legal skills, the game is guess what crime was committed. Two cases almost identical down to the last very detail the same acts the people even identical in age appearance race and religion. It is your job to name that crime......<g>
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