Legal Question in Business Law in Illinois

Gross misrepresentation of investment opportunity

I recently invested $20,000 in a company who stated the year end free and clear income to be $50,000-100,000 per employee. They provide the work and do the billing. They have provided one work bid which come to about $6.00 per hour. Three months later we have billed less thean $500. which they have not paid us. Is there hope for flagrant misrepresentaion?


Asked on 3/12/08, 2:11 pm

3 Answers from Attorneys
John Steele Steele Law Firm

Re: Gross misrepresentation of investment opportunity

Probably not. I would guess that you signed some pretty indemnifying documentation that they gave you to sign. IT would likely say they are not guaranteeing results, etc.

If a story sounds too good to be true, it probably is. If it was like clockwork that anyone could turn 20K into 100K yearly, 1/2 of America would be doing it.

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Answered on 3/13/08, 10:59 am
Michael Rosenblat Michael C. Rosenblat., P.C.

Re: Gross misrepresentation of investment opportunity

A question like this cannot be answered with limited information.

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Answered on 3/12/08, 4:56 pm
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Gross misrepresentation of investment opportunity

Sure, there is some hope. However more information is needed in order to fully review the situation. You should hire an attorney to review your paperwork and give you an opinion.

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Answered on 3/12/08, 6:45 pm


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