Hardaway Net-Works, Inc. and Darrell Glenn Hardaway – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Hardaway Net-Works, Inc. and Darrell Glenn Hardaway
The Securities and Exchange Commission announced charges against Darrell Glenn Hardaway and his company Hardaway Net-Works, Inc. (HNW), arising from their role in a multiyear offering fraud targeting members of a nationwide self-described “success club” known as the Global Information Network (GIN).
The SEC’s complaint, filed in federal court in Houston, Texas, alleges that since November 2010, Hardaway has raised at least $4.7 million from over one hundred investors residing in multiple states through the U.S. Hardaway, who was a high-ranking member in Global Information Network, marketed securities in his company, Hardaway Net-Works, Inc., to his fellow members. Hardaway focused on Global Information Network members both because they had great trust in him and because they had taken an oath not to criticize him. Hardaway persuaded Global Information Network members to invest in Hardaway Net-Works, Inc. through promises of securing a national roster of customers and ultimately taking the company public. The SEC’s complaint alleges that Hardaway’s representations were false. In fact, the complaint alleges that Hardaway instead used most investor funds to pay himself a salary and on various personal expenses. As the years passed, Hardaway allegedly continued to mislead Hardaway Net-Works, Inc. investors regarding Hardaway Net-Works, Inc.’s business prospects, prospects for going public, and the use of investor funds. When victims sought information about their investments, the SEC alleges that he refused to answer their questions, threatened legal action, and cited a Global Information Network -related rule that prohibits members from criticizing each other.
Hardaway also allegedly used $40,000 of investor funds to acquire a non-operating public shell company that he renamed Vortronnix Technologies, Inc. While in control of Vortronnix, Hardaway allegedly signed the company’s Form 10-Q for the third quarter of 2015 and certifications required by Sarbanes-Oxley despite knowing that there had been no review of the company’s financial statements by its auditor, as required by SEC rules. According to the SEC, Vortronnix’s auditor immediately directed Hardaway to withdraw the Form 10-Q, a directive which Hardaway allegedly ignored. According to the SEC, Vortronnix did not publicly disclose that the auditor had not reviewed the company’s third quarter of 2015 financial statement until 3 1/2 months after the auditor’s directive, when Vortronnix filed a Form 8-K announcing the resignation of its auditor.
Investors in Hardaway Net-Works, Inc. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Hardaway Net-Works, Inc., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Hardaway Net-Works, Inc., and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.