From the way Imergent's (Amex IIG) numbers look, it appears that this company is undergoing a current, significant decline in stock prices. Since Friday last, they have taken a nose dive equaling approximately 22%.
There has been no news coming out of the mounting Shareholder Class Action Lawsuits at the time of this printing. And, nothing possitive being reported. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case the link did not work.
The CEO, Donald Danks has seemingly dummied up, for the time being.
From the latest filings at Imergent's website, there also seems to be nothing but dead silence in updates concerning the State of Texas Attorney General's consumer fraud action being levied against Imergent, Donald Danks et al. A spokesman from the Attorney General's office as of recently has said there have been no settlements agreed upon. And, nothing is on the table. It appears, from this reporter's viewpoint, that this may very well be heading for a hearing in front of the judiciary. So, Mr. Danks' retorts of this being settled in days seem to be yet another smoke screen bent on keeping everyone off balance.
With there being no resolution in either the Shareholder Class Action Lawsuits and the Texas Consumer Fraud Investigation, it would appear to be rather grim for the so called Cash Flow/Software/Business Model. From where I sit, the longer these cases remain in litigations, the better the chances are for rulings against the defendants.
I challenge all of you reading this to act now. Time is of critical importance if you expect any restitution for your losses. If you are a shareholder, get on board with one of the many class action lawsuits. If you are a consumer, contact your State's Attorney General. From the way things currently seem to be, he/she who hesitates is lost. When the final curtain is closed and the lights are turned off for Imergent et al, the chances for recovery becomes almost impossible. Act and impact your own bottom lines! Get justice now!
Silverstar Consumer Advocate Reporter