A court in Las Vegas, Nevada found Universal Solar Technologies and its former officers Stephen Watkins and Paul Landrew liable to an investor.
Universal Solar Technologies (OTCBB:UNSS)
LAS VEGAS, NEVADA, UNITED STATES, April 1, 2023/EINPresswire.com/ — On March 27, 2023, a court in Clark County, Nevada ordered Universal Solar Technologies, Inc. (OTC: UNSS) along with its former officers Stephen H. Watkins and Paul Landrew to pay an investor $372,178 in damages resulting from a failed securities transaction in 2021.
Also found liable for the Judgment are several of Watkins’ companies; Entrex Carbon Market, LLC, Entrex E Chain, LLC and Entrex, Inc.
The Judgement issued by the Clark County, Nevada District Court ordered Watkins, Landrew, UNSS, Entrex Carbon Market, LLC, Entrex E chain, LLC and Entrex, Inc. to pay the Plaintiff damages for violations of the Nevada Securities Act, specifically NRS §90.570, for sales of securities based upon misrepresentations of fact.
The Judgment arises from an investment the Plaintiff made in one of Watkins’ carbon credit programs called Roper Island. UNSS, which Watkins represented to the Plaintiff had merged with Entrex, agreed to issue Plaintiff shares to serve as collateral for the Roper Island transaction.
Later, after it was announced that the merger had in fact not occurred, UNSS’s share price dropped, resulting in substantial losses to Plaintiff.
Plaintiff filed suit in the Clark County, Nevada District Court on June 30, 2022, and on March 27, 2023, the Court found Stephen Watkins, Paul Landrew, Universal Solar Technologies, Inc., as well as Entrex Carbon Market, LLC, Entrex E chain, LLC and Entrex, Inc. jointly and severally liable to Plaintiff, and awarded $372,178 in damages pursuant to Nevada Revised Statutes section 90.660, Civil Liability under the securities laws.
On March 25, 2023 it was announced that one of the Defendants, Entrex Carbon Market, LLC had been acquired by UHF Logistics Group (OTCPK: RGLG) on June 1, 2022.
The Law Office of David Liebrader, which represented Plaintiff in this matter has represented investors seeking to recover investment losses for the past thirty years. The firm can be reached at (702) 380-3131.
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