• Report: #1109563

Complaint Review: Magna Group, Hanover Holdings, Jousha sason

  • Submitted: Mon, December 23, 2013
  • Updated: Mon, December 23, 2013

  • Reported By: Sarah — Other
Magna Group, Hanover Holdings, Jousha sason
5 Hanover Square new york, New York USA

Magna Group, Hanover Holdings, Jousha sason Fraud, Litigation, Breach of Contract, Scam, new york New York

*Consumer Comment: Magna Group SCAM FRAUD Joshua Sason

*Author of original report: Magna Group Failur to Perform

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Cereplast Sues Magna Group for Breach of Contract , Dec 12 , 2013 -- Cereplast, Inc. (OTCQB: CERP), a leading manufacturer of proprietary biobased, compostable and sustainable plastics, today is providing an update on the litigation against the Magna Group. On May 8, 2013, the Company filed in the Southern District of New York a lawsuit against Magna Group LLC and Hanover Holdings LLC for breach of contract, breach o f the covenant of good faith and fair dealing. The Action is seeking compensatory damages in an unspecified amount, plaintiff’s costs and attorneys’ fees, and unspecified equitable or injunctive relief.


This report was posted on Ripoff Report on 12/23/2013 10:08 PM and is a permanent record located here: http://www.ripoffreport.com/r/Magna-Group-Hanover-Holdings-Jousha-sason/new-york-New-York-10004/Magna-Group-Hanover-Holdings-Jousha-sason-Fraud-Litigation-Breach-of-Contract-Scam-1109563. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

Magna Group SCAM FRAUD Joshua Sason

AUTHOR: GSmith - ()

Magna Group is essentially an equity line funder and as such they provide a toxic funding formula in the form of an equity line with no price floor. For such a service, they charge almost $200,000 and collect other fees as well. As represented, they will push a stock price to near zero in order to make sure they are buying at their big discount and simultaneously selling it to the public, locking in their profit. Another name for "Equity Enhancement" should be DEATH SPIRAL, because that is what will happen to the company's stock price.

As an example please look at their involvement with FreeSeas, which has lost over 75% of its value over the last year.

"Magna Group" has been linked to pump-and-dump schemes   (((link redacted)))

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#2 Author of original report

Magna Group Failur to Perform

AUTHOR: Kate - ()

Magna Group destoryed the value of SMHS through illegal toxic financings. Magna Group used Kimberly Gruas who illegally did their legal opinions for these illegal fraudulent financings. She has now changed her name to Kimberly Rudge.
 sec.gov/Archives/edgar/data/1324759/000119312513226268/d541186dex991.htm

 

Magna Group – Failure to pay, failure to perform

sec.gov/Archives/edgar/data/1324759/000119312513226268/d541186dex991.htm
 
investorshub.advfn.com/Clients-of-Magna-Group-and-Hanover-Holdings-25550/

biofuelsdigest.com/bdigest/2013/05/28/cereplast-takes-action-on-contract-violation/

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