Securities Law Firm Seeks Shareholders of Abandoned Companies Listed on OTC Pink Sheets Market
January 23, 2014 (PRLEAP.COM) Business NewsCHICAGO, ILLINOIS, January 23, 2014 /prleap/ The Securities Compliance Group a leading corporate and securities law firm, and its managing attorney, Adam S. Tracy., announced today that the firm is actively seeking shareholders of administratively abandoned OTC Pink Sheet companies. In an effort to help recoup the investments of both retail and high net worth investors in Pink Sheet issuers, the firm has launched a program directed at placing such neglected entities under the control of state and federal courts across the country. The firm expects to file its first petition in federal district court in Chicago by February 1, 2014.
"The landscape of the OTC Pink Sheets market is virtually littered with the remants of thousands once viable public companies," stated Adam S. Tracy, the firm's founder and managing partner. "If one were to multiply the number of existing shareholders by that number of Pink Sheet companies that have been virtually abandoned by management and major shareholder, yet retain a ticker symbol and a trading presence, we are potentially considering millions upon millions of aggrieved shareholders." He concluded, "we believe that the corporate laws of each state provide a mechanism by which a court of law can direct a company be placed under the effective control of that court - thereby allowing the company to be preserved, rehabilited and again become an active, going concern."
An necessary part of the process, the Securities Compliance Group is encouraging shareholders who may believe that their investment in a Pink Sheet company to be at risk to call the firm without delay. Those investors who believe that they may have been the victims of investment fraud are especially invited to contact the firm. There is no charge to any shareholder with respect to the firm's investigation.
About Securities Compliance Group, Ltd.
Securities Compliance Group, Ltd. is a leading provider of corporate, corporate finance and securities legal services, SEC-registered transfer agency, compliance and consulting services to micro, small to mid-sized private and public entities, their management, and shareholders. Our team is comprised of skilled, experienced attorneys, capital markets consultants and investor relations professionals. Representing hundreds of pre-public, NASDAQ, OTC, Pink Sheet, and foreign-listed companies, Securities Compliance Group offers cost-effective compliance and legal solutions to its clients.
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