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Alter ego band stonington ct series#
Allegedly in retaliation for his actions, and to remove an obstacle to the new financing round, the defendants rallied the Series D members to secretly remove plaintiff from the board. The plaintiff, along with his investment vehicle, initiated litigation by seeking to enjoin that new financing round. Within months, the company was insolvent and pursuing more money in a new "Series E" financing round. Once the plaintiff invested, the company's historic financial performance was revised downward and, with it, the company's projected future growth. Moreover, the CFO was responsible for preparing the company's historical financial records and projections that the defendants presented to the plaintiff to secure his investment. While the defendants allegedly knew the CFO was being investigated, they did not disclose that issue to the plaintiff before he invested. Less than four months after the plaintiff invested, the company's chief financial officer ("CFO") pled guilty to creating fraudulent financial records and misleading investors in a $1 billion Ponzi scheme at another company.
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The lucrative merger deal vanished without explanation. Soon after the plaintiff invested, the rosy picture the defendants had painted began to fade. His affiliated investment banking firm also secured a potentially profitable position as the company's investment banker. In return for his investment, the plaintiff became the Series D representative on the company's board of managers, securing certain corporate governance rights and other preferences. Ultimately, the plaintiff invested $5 million into the company and became the lead investor in its "Series D" financing round. He touted that he was currently negotiating, and would soon close, a lucrative merger with a successful cannabis distribution company. During these negotiations, the CSO presented strong historical financial numbers and promising projections for future growth.
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In advance of that investment, the plaintiff engaged in extensive negotiations with the individual defendants: the company's chief executive officer ("CEO") and chief strategy officer ("CSO"). The plaintiff in this case-the founder and CEO of an investment banking firm specializing in the wine and spirits industry-invested in a cannabis company. Woodward, HOPKINS & CARLEY, A LAW CORPORATION, San Jose, California Attorneys for Nominal Defendant American General Resources, LLC. Anthony, BERGER HARRIS LLP, Wilmington, Delaware Perry J. Beebe, BENESCH, FRIEDLANDER, COPLAN & ARONOFF LLP, Wilmington, Delaware Attorneys for Defendants Michael Ray and Vladimir Efros. Bogorad, GERARD FOX LAW P.C., Los Angeles, California Attorneys for Plaintiffs DG BF, LLC and Jeff A. Bellew, BELLEW LLP, Wilmington, Delaware Gerard P. So, for now, all we know is that this New London institution will be missed by many, from the EB and Pfizer employees who stopped by for happy hours after work, to the bikers whose Harley-Davidsons used to line the parking lot, and the many music lovers who depended on Stash's to always have great bands and plenty of people on the dance floor.MEMORANDUM OPINION Sean J. The simple posting included no explanation and had many regulars wondering what happened. The club had changed hands and was under new management in 2012. So far, however, there's been no answer to the many postings of "Why?" and the phone to the club has been disconnected. Like a lot of news these days, people heard it first on Facebook. The next posting was the far more somber: "Wednesday evening was the last night Stash will be open. Just two days before, the club had been advertising the band Alter Ego on its Facebook page and inviting people to come down for "the biggest night of the year." Stash's, the bar and restaurant that had been a mecca for live local music since 1986, closed its doors on Wednesday, November 29.
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Businesses in New London have a tendency to come and go but the recent closing of one local business took many by surprise.