Terminus, a California Penny Stock Company, Raised $7.9 Million While Allegedly Misleading Investors Regarding the Research, Development, and Profitability of their Purported Business to Manufacture Power Generation Products Such as Fuel Cells
Terminus, a California Penny Stock Company, allegedly misled investors regarding the research, development, and profitability of their purported business to manufacture power generation products such as fuel cells, according to a recent SEC Complaint currently under review by attorneys Joe Peiffer and James Booker.
Several Peiffer Wolf Carr & Kane securities practice lawyers are investigating investment recovery options on behalf of investors in Terminus Energy Inc.’s alleged investment fraud.
Investors who believe they may have lost money over Terminus Energy Inc.’s alleged investment fraud are encouraged to contact attorneys Joe Peiffer or James Booker with any useful information or for a free, no obligation discussion about their options.
The SEC also alleges that Terminus, while raising approximately $7.9 million from investors in Terminus Energy Inc., the company and its officers allegedly claimed to have had a viable prototype capable of being sold and earning revenue, said Complaint notes.
Terminus allegedly did not have the capabilities of the fuel cell technology or the funding to match their claims, and the officers were instead converting substantial amounts of investor funds to their own use, the SEC Complaint states.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Terminus Energy’s investment fraud.
Terminus Officers Were Allegedly Converting Large Amounts of Investor Funds for Personal Use and Also Failed to Disclose Terminus’s Operations Manager George Doumanis was Allegedly a Convicted Felon who Served Time in Prison for Securities Fraud, the SEC Complaint notes.
Terminus officers were allegedly converting large amounts of investor funds for personal use and also failed to disclose that Terminus’s operations manager George Doumanis was allegedly a convicted felon who went to prison for securities fraud, the SEC Complaint notes.
Terminus officers were instead converting substantial amounts of investor funds to their own use, according to The U.S. regulator
What is more, the company failed to disclose to investors that Terminus’s operations manager George Doumanis is a convicted felon who went to prison for securities fraud, the SEC Complaint states.
Doumanis was secretly acting as an officer of the company despite being barred from participating in penny stock offerings, the SEC added.
The SEC’s complaint seeks disgorgement of alleged ill-gotten gains plus interest and penalties, the Complaint notes
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged material misrepresentations and are currently investigating Terminus Energy’s alleged investment fraud. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Terminus Energy’s alleged investment fraud may contact the securities lawyers at Peiffer Wolf Carr & Kane, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434 or via e-mail at jpeiffer@pwcklegal.com or jbooker@pwcklegal.com.