(PRWEB) November 05, 2013
John Schiffner and his colleagues who have been dragged through the Courts and Administrative proceedings in multiple States, have recently been vindicated in their business affairs.
Years ago, the Securities Commissioner for the State of Colorado instituted a lawsuit against Mr. Schiffner’s past employers, and Mr. Schiffner individually, alleging that joint venture oil and gas wells were securities, and that Mr. Schiffner had illegally sold interests in such joint ventures.
Schiffner and his employers were pursued through years of proceedings. Recently, Judge Michael A. Martinez, of the District Court for the City and County of Denver, issued a well-reasoned Order denying the Commissioner’s allegations, and finding that investments in these oil and gas joint ventures are not securities, and that the sale of interests in these joint ventures is legal in Colorado. Fred J. Joseph, Securities Commissioner for the State of Colorado v. HEI Resources, et al., case number 09CV7181, October 17, 2013 Order. Multiple negative articles and other proceedings ensued against Mr. Schiffner because of the allegations against Mr. Schiffner in the Commissioner’s Complaint. By way of example, multiple investors pursued Mr. Schiffner personally in a civil action in Texas, which action Judge Barbara M G. Lynn dismissed last week. Mathers Family Trust, by William M. Mathers, Trustee, et al. v. Charles Reed Cagle, an individual, et al., United States District Court For The Northern District of Texas, Dallas Division, Civil Action Number 3:13-CV-1035-M.
So, while the wheels of justice have turned slowly, and Mr. Schiffner has endured countless attacks on his character and business practices, it turns out that he has done nothing wrong.