Quality Carriers Inc. - Quality Distribution Inc. - Sued by Quality Food Grade Carriers Inc. in Hillsborough County, Fla.
WINTER HAVEN Winter Haven, resort city (1990 pop. 24,725), Polk co., central Fla; settled 1883. It is a marketing, processing, and shipping center for one of the state's chief citrus-fruit regions, with fruit-canning plants and packing houses. , Fla.--(BUSINESS WIRE)--May 24, 2004
Suit Alleges Fraud and Conversion, and Demands 30 Million in Damages
The Law Firm of N. Burton Williams, P.A. with offices in Tampa Florida has filed suit in the Circuit Court, Thirteenth Judicial Circuit of Hillsborough County Hillsborough County is the name of two counties in the United States:
The Plaintiff alleges that the Fraud and Conversion described in the suit was part of a scheme to defraud Stockholders by misrepresenting the assets and liabilities of the Defendant. The scheme was carried out on the last day of the first quarter of this year and gave the Defendant the opportunity to misrepresent mis·rep·re·sent
tr.v. mis·rep·re·sent·ed, mis·rep·re·sent·ing, mis·rep·re·sents
1. To give an incorrect or misleading representation of.
2. over $3 million on their quarterly report.
In addition to the Stockholder Fraud, alleged by the Plaintiff, relating to this suit the Plaintiff alleges that Thomas Finkbiner, CEO and Keith Margelowsky, Senior Vice President of Quality Distribution disclosed the Fraud that existed at the subsidiary, Power Purchasing Inc. This discloser occurred in October of 2003 approximately one month before the company's IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . The Fraud at Power Purchasing Inc. resulted in several Federal suits being filed against Quality Distribution Inc. and its CEO, Thomas Finkbiner.