The Ausley & McMullen Law Firm Announces an Update to Class Action Lawsuit Filed as a Result of the Sale of Payphone Investments to Investors in Florida by ETS Payphones, Inc.
TALLAHASSEE, Fla.--(BUSINESS WIRE)--March 2, 2001
Steven P. Seymoe, Esq., with the Ausley & McMullen Law Firm, advises that a class action lawsuit was filed on or about February 8, 2001 in the Middle District Court of Florida, Jacksonville Division, asserting claims on behalf of persons who were solicited and purchased payphone agreements from ETS PAYPHONES, INC. in Florida or otherwise invested in ETS PAYPHONES, INC. in Florida by purchasing payphone agreements by or through the Defendants listed below within the applicable limitations period and who were damaged thereby.
The complaint charges these Defendants with violating federal and state securities laws by selling unregistered securities through unregistered agents and making material statements of facts which were untrue, or which omitted material facts which were necessary in order to make the statements made not misleading in light of the circumstances under which they were made.
All persons who invested in ETS PAYPHONES, INC. in Florida or otherwise invested in ETS PAYPHONES, INC. in Florida by purchasing payphone agreements by or through the Defendants listed below within the applicable limitations period are included in the proposed class action complaint, excepting Defendants, any of their affiliates, officers, members of their immediate families, heirs and legal representatives.
The Defendants to the proposed class action lawsuit include:
Charles E. Edwards, James D. Blyth, Jason Edwards, Communications Marketing Associates, Inc., National Communications Marketing, Inc., Thomas E. Murray, Financial Education Centers, Inc., Edgar Lawrence McLean, Jackie P. Adams, Sr. d/b/a Southeastern Marketing Service, Phil E. Mehl, Terrance P. Reilly, Reliance Trust Company, David A. Tucker & Associates, Inc., David A. Tucker, Retirement Income Specialists, LLC, and Joseph P. Kelly III.
Any person who desires to serve as lead plaintiff for the proposed class action suit must file a request with the United States Middle District Court of Florida, Jacksonville Division, by May 4, 2001.