- Listed: Nisan 21, 2021 4:06 pm
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TheStreet.com also noted that the enterprise had had some success in court, including the overturning of a fraud verdict and the defeat of a class action lawsuit alleging the enterprise was a pyramid scheme. The corporation and the Oklahoma Chamber of Commerce, which had Stonecipher on its board of directors, known as the lawsuits “frivolous” and “abusive”. In November 2006, Pre-Paid announced plans to devote $27.four million to repurchase shares owned by executives. LegalShield plans present the most comprehensive and affordable assistance accessible.
A jury ruled in favor of the company in the initially suit. In the second, a jury discovered Pre-Paid and Stonecipher guilty of deceptive marketing and fraud and required them, in November 2005, to spend $9.9 million in punitive damages. TheStreet.com reported that Pre-Paid faced extra lawsuits filed by 400 Mississippi plaintiffs.
In January 2011, Pre-Paid legal shield, click here to read – https://www.youtube.com/watch?v=cvhK1IppDms, agreed to merge with entities formed by MidOcean Partners, a New York private equity firm that describes itself as “focused on the middle industry”. The deal closed on June 30, 2011, and the company as soon as once again became privately held. In July 2011, Rip Mason began serving as LegalShield’s CEO. On September 10, 2011, the firm announced that it would transform its name to LegalShield as component of an all round re-branding initiative. In 2004, approximately 250 plaintiffs filed about 30 lawsuits in Alabama against Pre-Paid, all of which were dismissed or settled by 2006. Pre-Paid faced two lawsuits in Mississippi, one particular in October 2004, and the other in February 2005.
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