Chicago, IL (PRWEB) February 17, 2011
It has come to 141’s attention that the National Securities Clearing Corporation (“NSCC”) has suspended clearing services of 141’s common stock. 141 was not given any notice of the suspension and only became aware of it as a result of shareholder’s emails. Management is currently attempting to resolve the matter with the NSCC. It should be noted that NSCC is a private company and is not affiliated with the Federal Government.
The suspension of clearing services by NSCC was a result of civil litigation brought by the SECURITIES AND EXCHANGE COMMISSION, Plaintiff, vs. GENDARME CAPITAL CORPORATION, IAN LAMPHERE, EZAT RAHIMI, and CASSANDRA ARMENTO, Defendants. (Civil Action No.: 2:11-cv-00053-FCD-KJN) with no criminal allegations. Gendarme has informed us that they and their attorney thought they had resolved the matter satisfactorily having cooperated fully with the SEC, and were surprised when the action was filed.
141 was not implicated in the SEC complaint, however, the action will have an immediate impact on the Company and its shareholders. Many online trading platforms such as Etrade will not accept orders in the Company's stock and the Company may not be able to raise future funds for development. As 141 is unable to pay its vendor, both 141 and WRDC’s websites have been shut down. Additionally, the matter may affect 141’s potential to register with the National Futures Association. 141 purchased its interest in Wind River Development Corporation (“WRDC”) via a note and may not be able to service the debt if private investors are deterred as a result of the SEC's complaint against previous investors. WRDC is attempting to raise money on its own to finance the completion of TradeTablet. Once 141 is able to move forward, or WRDC raises money, a press release will be posted to bring shareholders up to date.
CEO Errol Stone stated, "we are greatly disturbed by the actions of the NSCC and the fact that the SEC's civil matter with private investors will, in the short term, limit our ability to grow as a business and affect shareholder return on investment while its function is to guide policy for corporate growth and to provide protection for investors." Management is working to rectify the situation and urges to also contact the NSCC directly at this number: 212-855-1780
Source: 141 Capital